Journal of Economic Literature
Book Reviews
2026-08-28
Helen Levy of University of Michigan reviews “Medicine and the Market: Equity v. Choice” by Daniel Callahan, Angela A. Wasunna,. The EconLit Abstract of the reviewed work begins “Explores the place of market theory and practice in medicine and health care. Discusses the origins of medicine and the market--from Adam Smith to HMOs; a tale of two cultures--Canada and the United States; the endurance of solidarity--universal health care in Western Europe and elsewhere; the market in developing countries--an ongoing experiment; the market wild card--pharmaceuticals; the value of the market--what the evidence shows; and the future of the market in health care--undercurrents from the past, riptides from the future. Callahan is Director of International Programs, and Wasunna is Associate for International Programs, at the Hastings Center. Index.”