Free Market and Ethical issues

Document Type:Research Paper

Subject Area:Economics

Document 1

Nevertheless, there are areas where the free market cannot function due to social problems and this entails selling of human organs, drugs, pollution among others. This paper will research on selling of human organs as a problem where the free market is not allowed and further look at how the problem can be alleviated through features in the free market. In addition, the research will address introduction of market mechanisms of supply and demand in human organ selling and later explain the role of the government in maintaining ethical business practices. The social problem I have selected is selling and buying of human organs. It is illegal to buy and sell human organs in a free market and this is mostly contributed to the ethical considerations of the business.

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According to Brennan (2015), one way that the free market features can be introduced to assist in easing human organs free market is by issuing subsidies stamps on the organs. The stamps will be that the organs that are sold are tested and approved by the government and they are granted subsidies in case they are intended for the lower class. Furthermore, if the stamps are issued there will be a steady supply of the organs and thus the price will be lower than it is on the black market which then gives the poor the chance to afford them. In order to avoid the poor been exploited, the government should set the standards of the people who can sell their organs (Brennan, 2015).

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For example, the government can set rules that before one sells an organ then he or she should be approved by local authorities. This is because the customers who need the human organs will be buying them without goodwill since the price is high as determined by the seller (Seppanen, Et al, 2013). The customers will buy the organs just because they are in dire need of them. Furthermore, there will be an increase in black market and thus creating the risk of human organ trafficking. The reason is since the seller decides the price, prices will be high and thus the business will be lucrative thus leading to human trafficking and even deaths which will negatively affect the economy. According to Breslin (2018), “the government has a legislating role in order to maintain ethical business practices” (Para 2).

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The government should educate the consumers on their rights. The education will help in making sure that businesses maintain ethical practices for the consumers knows their rights and they may boycott the products or sue the seller. Furthermore, the government educates the sellers on the consequences of not having business ethics. It is the role of the government to educate the employees on their rights thus protecting them from rogue employers and thus maintaining ethical business practices. In order to maintain ethical business practices, the government has the incentive role. References: Brennan J. (2015 Dec, 15). Should people be allowed to sell their own organs?. Panama Post. Retrieved on from https://panampost. pdf Scott V and Block W. Organ Transplant: Using the Free Market Solves the Problem.

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