The Allocation of Exotic Medical Lifesaving Therapy

Abstract

Technological progress has in recent years transformed the limits of the possible in medical therapy. However, the elevated state of sophistication of modern medical technology has brought the economists’ classic problem of scarcity in its wake as an unfortunate side product. The enormously sophisticated and complex equipment and the highly trained teams of experts requisite for its utilization are scarce resources in relation to potential demand. The administrators of the great medical institutions that preside over these scarce resources thus come to be faced increasingly with the awesome choice: Whose life to save?