Affordable Health Care Essay
Affordable health-care has been a controversial topic for many years, and the debate over health-care and what to do began when former President Barack Obama promised to make health insurance affordable for all. Health-care companies had long opposed such a reform, but Obama was able to create a deal in which health-care companies would expand the pool of insurance subscribers to cover their costs—agreeing to neither deny coverage to those with preexisting conditions nor imposing higher rates. In doing so Americans were required to either purchase health insurance or pay a set amount to the U.S. Treasury. Health-care costs were skyrocketing, and thus leading to the damage of the U.S. economy. One of the main concerns is the affordability of
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The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism by George
Akerlof (1970) analyzes the precise formal description of the economic setting “…including certain mathematical technicalities regarding the maximization of utility functions in a scenario with asymmetric information between players” (Mattei). Tobias A. Mattei describes how
Akerlof’s idea of “peaches” (i.e., good-quality products) and “lemons” (i.e., suboptimal quality products) play a role in not only society, but in the economy as well. The lack of precise information about the quality of a product under question imposes the idea that the necessity of
“pricing” the given product creates uncertainty, thus reducing its total value. Since President
Trump’s candidacy’s promise to turn the “lemons” (Obamacare) into “peaches” (new reform bill) and his beginning steps of doing so, “…a balanced compromise is the most likely outcome”
(Mattei). Donald Trump’s ides for creating a new reform bill has been kept at minimal information, thus ensuring that people are not sure of what is to come from Trump and his administration, but getting away from Obamacare is ideal for
The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism by George
Akerlof (1970) analyzes the precise formal description of the economic setting “…including certain mathematical technicalities regarding the maximization of utility functions in a scenario with asymmetric information between players” (Mattei). Tobias A. Mattei describes how
Akerlof’s idea of “peaches” (i.e., good-quality products) and “lemons” (i.e., suboptimal quality products) play a role in not only society, but in the economy as well. The lack of precise information about the quality of a product under question imposes the idea that the necessity of
“pricing” the given product creates uncertainty, thus reducing its total value. Since President
Trump’s candidacy’s promise to turn the “lemons” (Obamacare) into “peaches” (new reform bill) and his beginning steps of doing so, “…a balanced compromise is the most likely outcome”
(Mattei). Donald Trump’s ides for creating a new reform bill has been kept at minimal information, thus ensuring that people are not sure of what is to come from Trump and his administration, but getting away from Obamacare is ideal for