Is health care really different? - Health care's distinctive features

4 important questions on Is health care really different? - Health care's distinctive features

How is healthcare different?

Healthcare has a lot of distinctive feature, they are not unique in any of them.
It's the unique combination of features and the sheer number of them.

What is market failure?

Individuals' pursuit of self-interest leads to outcomes that can be improved upon from a societal point of view

How does the government try to correct market failures? (3x)

  1. Public provision
  2. Redistribution
  3. Regulation
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Does government interference work?

The fact that government can intervene on the healthcare system does not mean that it works. It can lead to government failures.

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