IF GOVERNMENT IS SO VILLAINOUS, HOW COME GOVERNMENT OFFICIALS DONT SEEM LIKE VILLAINS

The general uncertainty about the prospects of medical treatment is socially handled by rigid entry requirements. These are designed to reduce the uncertainty in the mind of the consumer as to the quality insofar as this is possible. I think this explanation is much more tenable than any idea of a monopoly seeking to increase incomes. Kenneth Arrow (1963, p. 966). © 1994, Cambridge University Press. All rights reserved.