How American Medical Payment Arrangements Differ from a Free Market How Should Limited Resources BeAllocated?

The free market is said to have failed in American medicine. However, a free market has not existed in American medicine for more than half a century, and many features attributed to the market, even in economics textbooks or treatises by medical organizations, are in fact characteristic of government-managed markets. A transparent price mechanism is critical for restoring the free market, protecting liberty, and assuring the availability and quality of medical services. A free market may be defined as the sum of those voluntary exchanges that furnish mutual benefit to participating individuals. Virtually innumerable positive-sum games occur in a genuinely free market: i.e. both parties are better off as a result of a trade, as of money for medical care. In such a market, neither medical services or medical insurance could be too costly because free