Michel Accad, MD, Leads Bob on a Critical Analysis of Kenneth Arrow’s Healthcare Paper

Tags: Free Markets, Health

07/18/2019 Robert P. Murphy Michel Accad, MD

Michel Accad practices cardiology and general internal medicine in San Francisco, and holds a part-time clinical faculty appointment at the University of California San Francisco. This episode continues the discussion that Bob had with Dr. Michel Accad back in Episode 43. There, Bob reviewed the development of concepts like “efficiency” and “market failure,” so that now he and Michel (in the current episode) could understand the pioneering 1963 article from Kenneth Arrow on healthcare economics. Specifically, Arrow outlines reasons that (in his mind) a free market in healthcare and health insurance won’t work very well.

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