It's True: Market Economies (with Some Regulatory Oversight) Really Do Maximize Social Welfare Essay by Top Papers

It's True: Market Economies (with Some Regulatory Oversight) Really Do Maximize Social Welfare
The following paper will look at how market economies really do maximize social welfare insofar as they get rid of inefficiencies, allow people the luxury of making free choices, and force people to take responsibility for their own health and not ...
# 137356 | 2,500 words | 4 sources | MLA | 2008 | US
Published on Dec 01, 2008 in Economics (General) , Canadian Studies (General)


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The following paper will look at how market economies really do maximize social welfare insofar as they get rid of inefficiencies, allow people the luxury of making free choices, and force people to take responsibility for their own health and not merely rely upon the state to look after them - the sort of paternalism that, if left unchecked, can discourage a responsible and health-conscious lifestyle. With all that in mind, the next several pages will discuss Canada's fairly interventionist approach to social welfare and why it is a poor model that cannot be defended. In particular, I will look at the notion of the "free choice" and at how denying people free choice places them in harm's way. As well, I will defend the free market approach from the charges of its critics that it fosters inequalities; in so doing, I will acknowledge that some governmental oversight is desirable. Finally, I will offer my own suggestion that, with a few changes to the wording of the Canada Health Act and a paradigm shift towards a free market solution to social welfare, Canada can free up resources, make the entire process of health care more efficient, propel individuals towards responsible consumption, and (in general) give Canadians the access they deserve to the services they need.

From the Paper:

It's True: Free Market Solutions (with Some Regulatory Oversight) Really Do Maximize Social Welfare The following paper will look at how market economies really do maximize social welfare insofar as they get rid of inefficiencies, allow people the luxury of making free choices, and force people to take responsibility for their own health and not merely rely upon the state to look after them - the sort of paternalism that, if left unchecked, can discourage a responsible and health-conscious lifestyle. With all that in mind, the next several pages will discuss Canada's fairly interventionist approach to social welfare and why it is a poor model that cannot be defended. In

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It's True: Market Economies (with Some Regulatory Oversight) Really Do Maximize Social Welfare (2008, December 01) Retrieved August 09, 2020, from https://www.academon.com/essay/it-true-market-economies-with-some-regulatory-oversight-really-do-maximize-social-welfare-137356/

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"It's True: Market Economies (with Some Regulatory Oversight) Really Do Maximize Social Welfare" 01 December 2008. Web. 09 August. 2020. <https://www.academon.com/essay/it-true-market-economies-with-some-regulatory-oversight-really-do-maximize-social-welfare-137356/>

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