THE HUMAN ORGAN MARKET Restrictive Economic Policy Charles Ecenbarger II Northampton Community College Mentor: Dean Denise Francois

Introduction Restricting the human organ market affects GDP. Revising restrictive economic policy could lead to an increase in GDP and a decrease in unemployment. Hypothesized that revising similar policy would have the same affect on the economy.

Open Markets Historically, market systems allocate resources in the most efficient manner for the buyer and seller. Regulated markets have increased the welfare of the people (ex. Computer hardware/automobiles). Open markets create jobs, contribute to consumption, and government spending; all of which increase GDP.

Outcomes The shadow economy is an estimated $20 billion entity. Compensation for kidneys ranges in the tens of thousands of dollars, none of which is included in the GDP. An open market would lead to a multi-billion dollar industry due to more participants in the market with the reduction of the risk factor. Prices will equalize.

Economic Principles Many new consumers would participate in a free market for human organs; causing more demand than supply in the beginning. After the initial shock to the market, predictably, the market will find equilibrium. Supply and Demand Graph P indicates Price Q indicates Quantity S indicates Supply D indicates Demand

Economic Principles With the market at equilibrium, the economy would be closer to producing its goods and services at the most efficient level – expanding the Production Possibility Frontier. A indicates pre market B indicates post market C indicates expansion possibility

Unemployment Increase in employment levels would put unemployment on the decline and leave us closer to full employment. Doctors, nurses, medical assistants, custodians, among other employment opportunities would be created. Jobs also created due to spillover. Access to necessary medical treatment leads to a healthier labor force.

Economic Investment Economic Investment is an increase in capital stock. Storage centers, procedural centers, among other centers of business would need to be built in order for the new market to function. Technological advances would take place in order to fulfill needs of the new market.

Opposition Altruism. 100,000+ names on the waiting list, while another being added every 15 minutes. Altruism is not as prevalent as collectively thought. Incentives, compensation, and free markets are proven.

Opposition Assumption that only those of a higher socioeconomic would have access to treatment. Free markets equalize prices. Adjustments to the healthcare system can offer assistance.

Opposition Monetary value placed on human life. Abortions, artificial insemination, and sperm banks have already placed a price on human life. 6,000 individuals die every year due to the lack of organs available.

Conclusion Abandon the current policy. Incentive based guidelines for consumers and entrepreneurs. Oversight and amendments to control shocks to the market. Doing so will increase the GDP and welfare of our population.