“The choice among these alternatives in any given case depends on the degree of difficulty consumers have in making the choice unaided, and on the consequences of errors of judgment. It its the general social consensus, clearly, that the laissez-faire solution for medicine is intolerable. The certification proposal never seems to have been discussed seriously.”

— Kenneth Arrow

Kenneth Arrow, "Uncertainty and The Welfare Economics of Medical Care", The American Economic Review(1953)
1950s-1960s

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The choice among these alternatives in any given case depends on the degree of difficulty consumers have in making the …" by Kenneth Arrow?

Kenneth Arrow 37

American economist 1921–2017

Related quotes

“The consumer has been given no choice, but to keep buying and consuming non-stop.”

Mwanandeke Kindembo (1996) Congolese author

“I have had direct experience of this myself. Often, what the press wrote, or did not write, about a remark I made somewhere proved to be of a far greater consequence than the remark itself. Democratic choice in such cases ceases to be a choice between alternatives people are familiar with, and have personally tried, and becomes a choice between alternatives offered by those who run the media.”

Václav Havel (1936–2011) playwright, essayist, poet, dissident and 1st President of the Czech Republic

The Onassis Prize For Man and Mankind (1993)

“At any given moment in your life, you have the choice between love and fear. And that’s a choice you make. You make the choice of how you react to events.”

Jennifer Beals (1963) American actress and a former teen model

Interview with Windy City Queercast (5 February 2011) http://www.windycityqueercast.com/audio.html?ID=535

“There seems to be a general consensus among informed observers that genuine cases of predation are very rare birds.”

William J. Baumol (1922–2017) American economist

William J. Baumol. "Predation and the Logic of the Average Variable Cost Test." Journal of Law and Economics, Vol. XXXIX, April 1996, p. 51.

“There are difficult choices to be made that have important social and environmental consequences. You have to protect the elderly and the poor.”

Brian Souter (1954) British businessman

As quoted on the CityAM Web Site http://www.cityam.com/news-and-analysis/the-father-the-uk’s-transport-business-sees-recovery-the-way (26th July 2010 )