Question
Many people, especially economists, argue that provision of vaccination against an infectious disease should not be left entirely to market forces. They are worried about
Many people, especially economists, argue that provision of vaccination against an infectious disease should not be left entirely to market forces. They are worried about market failure and want the government itself to provide vaccination to the masses.
A. Why do they think market failure will occur in this case? What kind of market failure is this?
B. If you were advocating a government-run programme in which vaccination was made mandatory, how would you respond to the criticism that this will infringe people's freedom because everyone has the right to decide whether or not to take the vaccine?
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