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Take two Nobel prizes and call me in the morning

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Tyler Cowen displays remarkable ingenuity in an attempt to explain why it is not a bad thing that the world’s most expensive healthcare system is not the best. The Economist’s View comments are particuarly good.

  1. Changing the yardstick from health and longevity measures to Nobel prizes and customer satisfaction doesn’t convince.
  2. David Cutler paints a different picture here.
  3. Fraction of GDP is the most flattering figure for comparison of cost. US GDP is very high, he gap would look even larger in PPP dollars.
  4. US health care has more to do.
  5. Healthcare doesn’t feature much in NOMYSAW, most likely because off-topic, but it would make a great worked example — fast food, no sidewalks, and long hours to pay for the consequences.
  6. Market solutions (not actually a good description of the US system) gun for better in the long run not cheapest in the short run. Imposed solutions are often underfunded and inflexible but can be more efficient in the short run.

Posted: October 6th, 2006 under Unsorted.
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