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Free «Principles of Economics-Macro» Essay Sample

Following the very initial introduction of financial compensation to individuals for either the purchase or sale of human organs, there was an eruption of public outrage and horror to the extent that a great percentage of associations of professional medicine practitioners had to campaign against it. Moreover, almost every country made such acts illegal. However, it is not only acceptable, but also admirable for an individual to state in his/her own will that he/she is ready to donate an organ to another for purposes of assistance. The present day belief is that the act of exchanging human organs is morally wrong. It is considered immoral in society to make use of money in efforts to induce another person to undergo an operation so as to remove a vital body organ for the benefit of another. Owing to the controversy, this paper aims at reacting to the query as to whether or not the market system ought to be applied in the trading of human organs.

Before going into the depths of this topic, it is imperative to define what a market system is and provide an explanation of how a market system works. By definition, a market system refers to any systematic process that facilitates numerous market players (buyers and sellers) to bid and ask. It is basically an economic system that relies on markets in the allocation of resources as well as the determination of prices. This process provides assistance to the buyers and sellers to interact and strike deals. Notably, a market system is not solely the price mechanism, it is rather the entire system of qualification, regulation, reputations, credentials and clearing surrounding the mechanism and at the same time making it operate successfully in a social context. Markedly, a market system operates under the assumption that both the buyer and the seller are constantly engaged and unequally enabled. It is on the basis of this assumption that a market system is specifically distinguished from a voting system, whereby the candidates are gaining voters’ support on a less regular basis. A market system makes use of the market for purposes of placing items and creating pricing with consideration of four paramount concepts of supply and demand, comparative advantage, factors of production and circular flow. Additionally, players in a market system either bid up or ask down on the basis of the fears they have and the greed they possess and this is the principal reason as to why the prices have a tendency of changing.

As for the objective of this paper, technological advances in medicine and science, including the efficacious lifesaving transplantation of human tissues, have delivered incalculable social benefits. However, thoughtful implications entailing autonomy of conflicting legal concerns and moral conditions have made the buying and selling of human organs illegitimate. In the U.S., for instance, the sale of human tissues has been prohibited by law, with the voluntary organ donation policy being unfair, inadequate and flawed. Thus, persons ought to be permitted to sell their organs. Markedly, surgery on organ transplant has significantly augmented the quality of life, health and life expectancy of a large number of individuals whose organs have failed in one way or another. Some of the human organs that are replaced include the cornea, the inner ear, pancreas, blood vessels, cartilage, testicles, muscles, ovaries, nerves, fallopian tubes, bone marrow, skin, heart, lungs, kidney and the liver.

Presently, it has been reported that there is a deficiency of the organs available to various groups of people who could significantly benefit from such organs. As in the case with other commodities in demand, a market for these human organs would grow well and efficiently provide allocation of these organs to those in dire need of them. Nowadays, a great percentage of the decisions regarding to organ donation are made at the Department of Motor Vehicles, where an individual is required to check a box on his/her willingness to donate an organ on the occurrence of a fatal car accident. Moreover, there is a tissue/organ donor card that one can fill in to express his/her willingness to be a donor when death seems to be imminent. Even with these efforts, there is still a massive deficiency of organs. The demand of these organs seems to have surpassed the supply, and this calls for an immediate action to be taken.

Sanctioning the selling of human organs rather than the mere donation of the same is likely to encourage more individuals to give their organs, and will amount to a considerably larger supply of these organs. Legalizing the sales of these organs is an act towards saving the lives of many people. Others benefits that would be realized include reducing government expenses, discouraging a black market, availing protection to an individual’s right of choice as well as being a means of compensating the donor. It can be argued out that there is no benefits of letting members of the society perish when the same society owns the means of saving them. In the event that the law permits the buying and selling of human organs, it is almost certain that some of the individuals will not be giving out of self-sacrifice, but as well as for financial gains. The outcome of this will be an increased supply of these organs. In case of a free market, the prices of the organs for transplants would rest at a level that will eliminate the excess demand for each organ category.

When dying the person cannot take his/her wealth with him/her. This same principle applies to human organs. Leaving an organ to someone else who will benefit from it equally increases the supply of human organs. In the event that dying person can sell their organs, the financial benefits can be passed on to his or her loved ones; and this happens to be an incentive to making certain that they fill out the right forms in their entirety prior passing on. The fact that one is in a position to sell his/her body organs can be likened to being freely availed with a sizable life insurance policy. Monetary compensation is likely to move people toward the sought after end result of saving more lives.

In conclusion, it is clear that the contract of sale of human organs will immeasurably increase the availability of these organs. Moreover, in the presence of a free market for the same organs, it is certain that a number of companies are likely to sprout up for purposes of offering payment to the designated individuals for the organs in case of a fatal accident. Establishing a market system for the allocation of human organs would actually increase the supply, thus greater number of individuals’ lives will be saved. Apart from shortage being properly dealt with (especially in a free market), the forces of both demand and supply create the market price of these organs. Undeniably, open markets for human organs are the best avenues to ensure that those with defective organs access transplants faster as compared to the prohibitive method that is currently being used.


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