Premium
Trust, Titmuss and blood
Author(s) -
Shearmur Jeremy
Publication year - 2001
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/1468-0270.00272
Subject(s) - liability , law and economics , economics , business , microeconomics , law , actuarial science , political science
Richard Titmuss challenged the market‐based approach to social problems in the case of blood supply. His criticisms can, however, be answered if a system of strict liability is in place and if commerce works effectively with charitable activity. It is false to draw a dichotomy between markets and narrow self‐interest, on the one hand, and mechanisms that make for the well‐being of others, on the other.