Free Markets in Organs Coming to Singapore

My first class at Chicago’s GSB (now the $300 million Booth School of Biz) was micro economics.  Early in the course the professor offered organ donations as an example of potential inefficiencies caused by government interventions. The professor wondered what the true value of kidneys were, how many people would sell one of theirs, and how quickly the waiting list would disappear if the market were allowed to solve the problem (sales of organs are illegal in the US). 

Alex Tabbarrok over at Marginal Revolution reports that Singapore is going to start compensating donors of kidneys and eggs. The government’s proposal has passed a bioethics review and legislation may be forthcoming in the new year. Pretty interesting stuff. Apparently Tabbarrok, a GMU economist, has written on the subject.

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