Dr. Daniel Callahan, American philosopher and biomedical ethicist, speaks about the allocation of financial resources for the medical needs of the elderly. Callahan co-founded the Hastings Center, a research institute dedicated to the study of ethics in medicine and biology, in 1969. This lecture is the second part of a series on medical ethics presented in cooperation with the Hastings Center. Callahan contends that the question of allocating resources for the elderly, particularly in a situation that would require the rationing of medical supplies or services, ultimately requires considering “what medicine is all about.” He asks, for example, “How should the health needs of the elderly be balanced against the health needs of other age groups?” Callahan considers demographic data regarding age, poverty, and health in his discussion. Following the lecture, medical historian Dr. David J. Rothman moderates a discussion with Callahan including questions from the audience.