Health Care Myths

Sally Pipes, president and CEO of the Pacific Research Institute, writing on details Five Myths About Health Care.  An excerpt:

Health care spending also brings huge economic gains by increasing individuals’ productivity. University of Chicago economists Kevin Murphy and Robert Topel determined that the longevity gains associated with medical innovation are currently worth $2.8 trillion annually. That’s larger than the GDP of the U.K.

Medical care doesn’t come cheap. But that doesn’t mean we’re not getting our money’s worth.

I don’t think we necessarily are getting our money’s worth, but the point is well taken that we do tend to view health care expenditures almost entirely in terms of cost and often forget about the benefits.


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