Discuss potential government failures of providing primary health care through public healthcare facilities in urban areas.© BrainMass Inc. brainmass.com October 17, 2018, 11:28 am ad1c9bdddf
One of the primary reasons that the government is potentially and actually selling at providing primary health care through public healthcare facilities in urban areas, is due to the fact that these healthcare facilities usually receive less funding than larger and more affluent healthcare facilities. This is a major reason for the primary health care shortfall and discrepancy between public healthcare facilities in urban areas, and many of the privately owned healthcare facilities receive an abundance of funding from philanthropic organizations as well as a plethora of different individual donors that are usually very high on the social economic ladder within this nation. This lack of adequate funding causes a tremendous shortfall in the ability of public healthcare facilities to attract primary-care physicians, which are the backbone of primary health care services within these facilities and other facilities like these. When there is ...
Explain why, in the microeconomics view of the world, the operation of the private market as a default, maximizes economic efficiency--hence, why government intervention on efficiency grounds has to be specifically justified by particular circumstances.
The answers should be 1 short paragraph for each subpart.
a) Explain why, in the microeconomics view of the world, the operation of the private market as a default, maximizes economic efficiency--hence, why government intervention on efficiency grounds has to be specifically justified by particular circumstances.
b) What are the 3 specific circumstances, where the operation of private markets does not maximize economic efficiency, hence, where government intervention is conceptually justfied on efficiency grounds?
c) Picking 2 of the 3 examples from part (b), draw diagrams which show how the market responds to the optimal government intervention designed to correct the efficiency problem, and explain, with appropriate lettering in the figures,, the net economic effects on all of the affected parties, and the net efficiency effect that results when the "market failure" is fixed through government intervention.
d) Explain the conservative critique of the accounting result obtained in part (C), and the more general critique of the philosophy that government intervention is justified to fix the efficiency probblem in such cases. Please see attached handout on "market failure" versus "government failure" for explanation of these 2 terms.
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