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A Warrant for Pain: Caveat Emptor vs. the Duty of Care in American Medicine, c. 1970-2010

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  • Avner Offer

Abstract

Bad ethics can make for bad economic outcome. Bad ethics are defined hedonically as the infliction of pain on others for private advantage. The infliction of pain is often justified by 'Just World Theories', which state that everyone gets what they deserve. Market liberalism (and its theoretical underpinning in neoclassical economics) is one theory of this kind. As an example, the micro and macro underperformance of the American health system c. 1970-2010 is explained in terms of the shift in policy norms from the fiduciary norm "first do no harm" to the neo-liberal market norm of "let the buyer beware" (caveat emptor) since the 1970s.

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  • Avner Offer, 2012. "A Warrant for Pain: Caveat Emptor vs. the Duty of Care in American Medicine, c. 1970-2010," Oxford Economic and Social History Working Papers _102, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:esohwp:_102
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    References listed on IDEAS

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    1. Offer, Avner & Pechey, Rachel & Ulijaszek, Stanley, 2010. "Obesity under affluence varies by welfare regimes: The effect of fast food, insecurity, and inequality," Economics & Human Biology, Elsevier, vol. 8(3), pages 297-308, December.
    2. Goodall, Amanda H., 2011. "Physician-leaders and hospital performance: Is there an association?," Social Science & Medicine, Elsevier, vol. 73(4), pages 535-539, August.
    3. Avner Offer, 2006. "The challenge of affluence: self-control and well-being since 1950," Working Papers 6020, Economic History Society.
    4. Offer, Avner & Pechey, Rachel & Ulijaszek, Stanley, 2010. "Obesity under affluence varies by welfare regimes: The effect of fast food, insecurity, and inequality," Economics & Human Biology, Elsevier, vol. 8(3), pages 297-308, December.
    5. Avner Offer, 2012. "Self-interest, Sympathy and the Invisible Hand : From Adam Smith to Market Liberalism," Economic Thought, World Economics Association, vol. 1(2), pages 1-1, December.
    6. Force,Pierre, 2003. "Self-Interest before Adam Smith," Cambridge Books, Cambridge University Press, number 9780521830607.
    7. Lilia Costabile (ed.), 2008. "Institutions for Social Well-Being," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-58435-8.
    8. Avner Offer, 2012. "Self-interest, Sympathy and the Invisible Hand : From Adam Smith to Market Liberalism," Economic Thought, World Economics Association, vol. 1(2), pages 1-1, December.
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    Cited by:

    1. Avner Offer, 2012. "Self-interest, Sympathy and the Invisible Hand : From Adam Smith to Market Liberalism," Economic Thought, World Economics Association, vol. 1(2), pages 1-1, December.

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