Within a free market, market failures are inevitable. When market failures occur in critically important areas, such as healthcare and education, corrections are necessary. The methods of corrections for these market failures should be based upon both the government and individuals. Large-scale efforts that are only possible via government intervention are often required to fix critically important market failures. In order to prevent government overreaction, however, the government’s actions should be checked by civilians, allowing them to balance the government’s power. As for the current state of health care in the United States, there is clearly a need for changes in the health care system. I am happy to see that the government is trying to step in and regulate the failed health care system. The problem I have with what is currently happening, however, is the way the government is going about it. With 49% of house representatives and the large majority of Americans also disapproving of the house bill, especially with its public option, I believe that we need to reconsider the way in which we go about fixing the health system.
Market Failures
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