History of the Corporatization of American Medicine: The Market Paradigm Reigns

Salmon, J. Warren; Thompson, Stephen L.

Economic systems have been analyzed and debated by economists and governmental leaders for centuries. Historically, economic systems have been assessed by the products and techniques of production and how they are distributed, today with capitalism predominant and with mounting inequality within every society. Under global capitalism, ownership of land and productive capital is chiefly in private hands, with the role of the state fiercely debated with continual attempts seeking to restrain its oversight. Social justice in more liberal advanced societies has been championed over time, but the rise of finance capital and its presence in corporate-dominated economies has emerged with a massive concentration of ownership in almost every sector of the American economy. With its tendency toward managerial and administrative quantifications to fix existing flaws in the system, neoclassical economics has prevailed; few alternative or opposing perspectives rarely get debated. Thus, the overall structure is taken as a given and immutable. Global efforts toward privatization and monopolization mark the current stage of development. The institutional structure of American health care became elaborated under this system of capitalism and reflects much of the larger political economy. As seen in the medical-industrial complex, we are now witnessing a corporate takeover of the supply industries, insurance sector, and provider segments for their profit-making possibilities. What was once a professional dominated service sector with not-for-profit providers has now witnessed a rapid corporate transformation.