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Michel Accad, MD, Leads Bob on a Critical Analysis of Kenneth Arrow’s Healthcare Paper

The Bob Murphy Show

Tags Free MarketsHealth

07/18/2019Robert P. MurphyMichel Accad, MD

Michel Accad practices cardiology and general internal medicine in San Francisco, and holds a part-time clinical faculty appointment at the University of California San Francisco. This episode continues the discussion that Bob had with Dr. Michel Accad back in Episode 43. There, Bob reviewed the development of concepts like “efficiency” and “market failure,” so that now he and Michel (in the current episode) could understand the pioneering 1963 article from Kenneth Arrow on healthcare economics. Specifically, Arrow outlines reasons that (in his mind) a free market in healthcare and health insurance won’t work very well.

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Contact Robert P. Murphy

Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of many books. His latest is Contra Krugman: Smashing the Errors of America's Most Famous KeynesianHis other works include Chaos Theory, Lessons for the Young Economist, and Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015) which is a modern distillation of the essentials of Mises's thought for the layperson. Murphy is cohost, with Tom Woods, of the popular podcast Contra Krugman, which is a weekly refutation of Paul Krugman's New York Times column. He is also host of The Bob Murphy Show.

Michel Accad, MD

Michel Accad, MD, practices cardiology and internal medicine in San Francisco, offering individualized care in a free-market setting. His blog about health care and medicine is He also co-hosts the Accad And Koa Report podcast.

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