Compensation works in all other markets, so it would likely work for kidneys. Here is something I recently wrote:
If anyone doubts that government price controls are the cause of the kidney shortage, and ending the controls would end the shortage, consider the market for blood plasma — the components of blood vital for 18 different life-saving procedures. Most countries have the same policy toward plasma donors that they have toward kidney donors; they do not allow them to be compensated. Consequently, they have the same drastic shortage of plasma that they have of kidneys.
However, a few countries, including the U.S., allow plasma donors to be paid, and consequently these countries do not have a shortage of plasma. Indeed, these countries produce enough plasma not only for their own needs, but also for the needs of the countries that prohibit payment. The latter are saved from the consequences of their own poor policies by other countries whose policies benefit themselves and others.
Thank you for your altruistic donation! Unfortunately there are not nearly enough people like you.
Tim,
Compensation works in all other markets, so it would likely work for kidneys. Here is something I recently wrote:
If anyone doubts that government price controls are the cause of the kidney shortage, and ending the controls would end the shortage, consider the market for blood plasma — the components of blood vital for 18 different life-saving procedures. Most countries have the same policy toward plasma donors that they have toward kidney donors; they do not allow them to be compensated. Consequently, they have the same drastic shortage of plasma that they have of kidneys.
However, a few countries, including the U.S., allow plasma donors to be paid, and consequently these countries do not have a shortage of plasma. Indeed, these countries produce enough plasma not only for their own needs, but also for the needs of the countries that prohibit payment. The latter are saved from the consequences of their own poor policies by other countries whose policies benefit themselves and others.
Thank you for your altruistic donation! Unfortunately there are not nearly enough people like you.
Frank