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The Myth Of Free Health Care

In: Capitalism in the 21st Century Why Global Capitalism Is Broken and How It Can Be Fixed

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  • Donghyun Park

Abstract

Health care is another activity in which governments around the world are involved, to varying degrees. In some countries, the government is in the business of providing health care, and in some other countries, the government does not provide health care but provides health insurance. It is not obvious why the government should be in the health care business or health insurance business. After all, when I consult a doctor, receive treatment and medicine, or undergo a heart bypass surgery, I am the one who benefits and the only one who benefits. In that sense, the health care business is no different from the automobile business or the perfume business or the laptop business. One argument for government intervention in health care is that a society where everybody is healthy benefits all members of society, for example by preventing an epidemic of contagious diseases. Therefore, the government should provide health care to all, or so the argument goes. It is a lame argument…

Suggested Citation

  • Donghyun Park, 2019. "The Myth Of Free Health Care," World Scientific Book Chapters, in: Capitalism in the 21st Century Why Global Capitalism Is Broken and How It Can Be Fixed, chapter 31, pages 135-137, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789813274242_0031
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    Keywords

    Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market;
    All these keywords.

    JEL classification:

    • F6 - International Economics - - Economic Impacts of Globalization
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • N2 - Economic History - - Financial Markets and Institutions
    • A1 - General Economics and Teaching - - General Economics
    • F00 - International Economics - - General - - - General

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