Capitalism In The Medical System

The United States of America is a capitalistic society. Capitalism did not exist for a long time, but instead, it came after the Renaissance period. It is an economic system, in which major and minor distribution or production companies can be owned privately (Williams). It is the opposite of socialism, in which companies come under the umbrella of public property. All the businesses ranging from transportation industries, bank institutions or even insurance corporations can all be owned privately. Every economic system has its positive impacts and negative impacts. A similar case is with capitalism, it has its pros and cons.
One of the main criticism done on the capitalistic system is, when people are given the right to run and own businesses,
Some people cannot afford it and thus are unable to get the required treatment. All these problems are caused because of the monopolization in the medical field. The critics say that the way medical professionals have been able to do that is by restricting the entry of more doctors and physicians. The limitations and restrictions are achieved by forcing every doctor or physician to acquire a license to practice medicine. Without the license, no doctor or physician, no matter how good and capable they are, is not allowed to practice and it would be considered as an infringement of the law. Apart from establishing licenses to practice, there are not enough medical schools to accommodate a large number of students applying to get admission in medical. The competition has become increasingly tough as each passing day. The amount of people wanting to go into the medical field is becoming less and less because of the fierce competition. Most of the average students do not even bother to apply in medical schools, knowing they do not stand a chance. American Medical Association decides who is capable of gaining a license to practice and who is not. They would not increase the number of doctors and physician because it will affect them. The average client per doctor would start decreasing and the doctors, as well as the physicians, do not want that to
The contractual theory of justice says that most of the members of the society should and must be given freedom and liberty, but there is a problem of people who would impersonate doctors and would fraud the innocent people. The people who do not know or are well-equipped to practice medicine would take advantage of the desperation of people. One way to answer this objection is that the theory does not necessarily say that all people should be given privilege. In this case, the people who have passed a degree or have some sort of certification in medical field from anywhere in the world should be given the right to practice, but as for the people, who do not have any background knowledge or certification of any kind from anywhere should not be allowed as it would do more harm than good. One objection on utilitarian theory is that the consequence of allowing everyone to practice will benefit the people on the whole or not. The greatest profit that maximum people will get by following utilitarian theory. The objection is by allowing every physician who does not have enough qualification, to practice. This will produce the greatest benefit for the doctors and physicians who do not have the permit to practice. The way to tackle this objection on the theory is that the greatest profit and