Working Capital Management – Cash, Inventory and Account Receivables
Introduction Businesses require adequate capital to succeed in business environment. There are two types of capital required by business; fixed capital and working capital. Businesses require investment in asset, which has to be utilized over a longer period of times. These long-term investments are considered as fixed capital, e.g. plant, machinery, etc. Another type of […]
Total Quality Management Models
Total Quality Management is a combined effort of both top level management as well as employees of an organization to formulate effective strategies and policies to deliver high quality products which not only meet but also exceed customer satisfaction. Total Quality management enables employees to focus on quality than quantity and strive hard to excel […]
Building a Business Process Improvement (BPI) Model
Embracing Business Process Improvement program is the ideal way for Organizations to make that leap to the next level and build competitive edge. Implementing a BPI program gives the Organization several direct and indirect benefits and advantages. It helps the Organization get rid of the redundancies, reduce dependence upon people and eliminate wastage as well […]
Information System for Decision Support
Introduction In the current globalized business environment, decision making is becoming more and more difficult. Some of the problems faced by business are as follows: There is large volume of internal organizational data on hand thanks to the modern data-storage system. However, not all data available would be useful for decision. The flow of information […]
Production Module – Subcontracting and Materials Issue
Production Order Subcontracting – In the age of production outsourcing and the organizational focus on their core competency, subcontracting of production orders is assuming greater importance. In addition to the business functionality necessary for producing goods in house, sub contraction operations necessitates some additional business process such as generation of sub contracting purchase order. Sub […]
Healthcare has become outrageously expensive in most developed nations of the world. For instance, American citizens who do not have health insurance are relatively sure that they will not be able to meet their own healthcare costs. The same is the situation in many countries around the world. This has created a debate wherein healthcare is now being said to be the responsibility of the government.
There are many countries such as Canada and the United Kingdom wherein free healthcare is now the norm. From a humanitarian point of view, free healthcare seems to be a plausible idea. However, as soon as the hard-hitting facts of economic reality are introduced in the picture, free healthcare for all no longer remains a possibility. In this article, we will explore both the moral and the economic aspects of the free health care debate.
The basis of the free healthcare demand comes from the assumption that healthcare is a humanitarian right and should not be denied to anyone. Since it is a right like life, liberty, and pursuit of happiness it should be taken care of by the government.
However, this right to free healthcare is a self-defeating argument. This is because everyone has the right to keep the fruits of their own labor. Hence, no one has the right to receive free stuff be it food, clothing or healthcare. This is because these goods need to be produced. Therefore, if they are given away for free, it would be an infringement on the rights of the people who are producing it.
Just like patients have rights, the physicians and doctors have human rights too. It would be an infringement of their right to earn a living if the government asked them to provide services for free.
Similarly, when governments start taxing one citizen to provide for the healthcare of the other, they are just transferring the fruits of the labor of one man to another. People can voluntarily contribute to the illness of their countrymen. However, forcing people to part with a percentage of their income is morally incorrect.
Hence, no one really has a right to free healthcare. These are mere statements made by politicians who want to expand the scope of the government to grab more tax dollars. Once these tax dollars are in their kitty, they spend some of it on healthcare while embezzling some of it to build private wealth. Nationalized healthcare is a scam which should be avoided at all costs.
Free healthcare is not only incorrect on moral level. It also causes grievous economic harm. The free healthcare system distorts the free market.
Free markets are inherently sensitive to customer demands. Companies that pay attention to customer demands survive whereas those that do not pay attention perish. On the other hand, bureaucracies do not have any incentive to be customer friendly.
Monopolies simply forbid other competitive service providers and are able to survive despite providing mediocre service. Hence it can be said that the monopolization by the government is causing healthcare standards to be lowered in these nations.
Patients flock to doctors for the smallest of ailments. As a result, more doctors and even more hospitals are required. The entire medical infrastructure has to be expanded to accommodate this frivolous demand.
The shortages and long wait times are the byproduct of free healthcare systems. These situations are commonly seen in countries like Canada. On the other hand, in countries where patients are supposed to pay for these services, they can get immediate medical attention. A free healthcare program provided by the government worsens the situation for everybody.
In the end, the system becomes so wasteful that the society pays several times more for their healthcare needs than they would have otherwise paid. Healthcare costs are adding massively to fiscal deficit in nations where free healthcare system has been implemented.
To sum it up, healthcare is not a right but rather a responsibility. The government does not have the right to take money from people who judiciously save for the future and give it those who don’t. Securing your health has always been an individual prerogative, and it must remain so.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
February 12, 2025
