Michel Accad, MD, Leads Bob on a Discussion of "Efficiency" and "Market Failure" as Used in Health Economics

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 reproduces a discussion Bob had on Michel’s podcast, where they discussed the development of “welfare economics” in mainstream theory, in preparation for their subsequent discussion of Kenneth Arrow’s famous paper critiquing free-market healthcare delivery. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.