Sunday, November 07, 2004
· posted at 11:01 AM
From a strictly economic perspective, the market for the provision of medical care suffers from two almost unavoidable defects. First, effective treatments eliminate demand by curing the customers who purchase them. Second, ineffective treatments also tend to eliminate demand, either because, in the case of fatal diseases, customers who purchase such treatments die off, or because, in the case of nonfatal conditions, customers will normally choose not to treat the condition, once it becomes clear the treatment is ineffective. |
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