Recently, over 90,000 American men, women, and children...

Recently, over 90,000 American men, women, and children are waiting for new kidneys. However, only about 16,500 kidneys were donated for transplant operations to be performed. These show that quite simple high demand and low supplies. According to the Professor Mcnaught’s lecture, the cost of a kidney transplant runs about $250,000 and its bill goes up to $70,000 annually. Dialysis is even becoming more expensive and price-inelastic. To solve this high demand and low supplies situation that causes people die while they are waiting for organ donators, we have to find a way to increase the supply of organs that could reduce waiting times and deaths. The most effective way will be to provide compensation for organ donators; in other words, we†¦show more content†¦As a result, only 16,000 transplants are done a year when 5,000 people die at the same time. This is a basic example of shortage and excess demand. Therefore, allowing prices to rise will simply fix this. As the kidneys’ market price rise up, many people who are suffering financial issues will be selling their kidneys, and this will lower the excessive demand in this market. Moreover, higher price will set the equilibrium price eventually. In Iran, government is allowing open purchase and sale of organs. Some evidences from Iran show that the average price of kidneys is about $4,000. As expected, allowing open market decreased that waiting times to get kidneys enormously. In United States of America, the estimated price would be 15,000 because we have 4 times larger capita income than Iran has. By setting a reasonable price, the number of people on dialysis will decrease dramatically and deaths by waiting for organs to be donated would decrease dramatically either. On the other side, the idea of allowing open organ market has strongly opposed by some transplant surgeons and other doctors. They claimed that selling or paying for organs is ineffective. Also, they argued that this is a n immoral way solve the problem because it involves the sale of body parts and that the main donators will be poor people who needed money desperately and regret their decision. Basically, critics are saying that sale of organs is repugnant. Although some people are arguing thatShow MoreRelatedMedicare Policy Analysis447966 Words   |  1792 PagesI 111TH CONGRESS 1ST SESSION H. R. 3962 To provide affordable, quality health care for all Americans and reduce the growth in health care spending, and for other purposes. IN THE HOUSE OF REPRESENTATIVES OCTOBER 29, 2009 Mr. DINGELL (for himself, Mr. RANGEL, Mr. WAXMAN, Mr. GEORGE MILLER of California, Mr. STARK, Mr. PALLONE, and Mr. ANDREWS) introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committees on Education