02 July 2014
Capitalism 2014: Profit Versus Women's Health Policy Parity
The dissenting justices offered what should have been overwhelming evidence of the error being made by the majority. Precendent, legislation and plain reasoning could not budge the five men who ruled that if a for-profit corporation was closely held its owners could refuse to offer contraceptive medicine insurance coverage as mandated by the ACA. The majority opinion will make many graduate students delighted because they will be able to reveal the heuristic bias of the majority justices: teachings and socialization of the Roman Catholic Church. Every justice ruling in favor of the plaintiffs is Catholic and male. It would appear that capitalism's basic tenent of commerce, the purpose of business is to acquire capital or wealth for the owners, now has a caveat. Three of the four justices dissenting are women.
Even Adam Smith distinguished between an owner's profit purpose and that owner's public responsibility in using capital. The local religious bookstore seems covered by this exception to the purpose for which the owners' incorporated their assets.
One has to wonder whether another religious belief would rate equal worth in determining the health care insurance coverage for a corporation's women employees. What criteria beyond the number of shareholders will qualify an employer for a coverage-exemption to ACA? This ruling is a can of worms just waiting to complicate federal regulations. Look forward to another 600+ page set of regulations arriving from HHS.