Econlib.org
The Economic Approach to Public Health
WebIn a short article for the Reason Foundation, I distinguish between the economic approach to public health and the contemporary “public health” movement, which is a political movement.Two short excerpts: Traditionally, public health deals with a general class of public goods related to the prevention and control of health events that are in …
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URL: https://www.econlib.org/the-economic-approach-to-public-health/
Public Health from the People
WebTwo Kinds of Private Responses. Following Vernon Smith and his distinction between constructivist and ecological rationality, private actors can engage in two general kinds of public health improvements. They can engage in concerted efforts to improve public health, and they can engage in emergent responses through myriad interactions. …
Moral Hazard and Health Insurance
WebMoral hazard is particularly strong in the health insurance market. Economist Amy Finkelstein has done some good work examining how it manifests. She looks at two different forms of moral hazard created by health insurance – ex-ante moral hazard, and ex-post moral hazard. Ex-ante moral hazard would occur if someone says, “Well, now that I …
A Cure for Our Health Care Ills: The Supply Side
WebI n our previous article, “A Cure for Our Health Care Ills,” 1 we debunked some persistent myths and discussed some key regulatory, spending, and insurance changes on the demand side that would make health care more affordable while not cutting, and possibly increasing, quality. But the demand side is only half the story. Important reforms …
Health Insurance
WebThe Birth of the “Blues” In the 1930s and 1940s, a competitive market for health insurance developed in many places in the United States. Typically, premiums tended to reflect risks, and insurers aggressively monitored claims to keep costs down and prevent abuses. Following World War II, however, the market changed radically. Hospitals had created …
Orthodox Jewish Healthcare During the COVID-19 Pandemic
WebFor instance, the New York Board continued to issue guidance and criticism throughout the pandemic when Orthodox communities in Brooklyn broke crowd limits. In response to a Borough Park protest of COVID-19 public health restrictions in October 2020, the Board called the protests “shameful.” 14. Last, these councils were also important in
Economic Research on Direct-Purchase Health Insurance: New …
WebThe Birth of the Blues. The Depression produced a dramatic change in health coverage. One year after the stock market crash of 1929 “average hospital receipts per person fell from $236.12 to $59.26, and average hospital deficits rose from 15.2 to 20.6 percent of disbursements.” 2 To boost revenues, hospitals created community-wide …
How Free-Market Kidney Sales Can Save Lives—And Lower the
WebWith fewer kidneys supplied, the marginal value of a kidney is higher. This means that the implicit price that doctors and hospitals can charge for the “free” kidneys and the transplant operations is higher. The result is that the overall price of a kidney transplant is higher than if kidney sales were legal. Kidney Graphics.
"Public Health" Is Not What Most People Think
WebGerard Hastings of Stirling University writes in a medical journal that “lethal though tobacco is, the harm done to public health by our economic system is far greater.”. Marketing, he claims, “undermines our mental as well as our physical well-being” and, when done by multinationals, presents “a major threat to public health.”.
Health Insurance, by John C. Goodman: The Concise Encyclopedia …
WebIn the thirties and forties a competitive market for health insurance developed in many places in the United States. Typically, premiums tended to reflect risks, and insurers aggressively monitored claims to keep costs down and prevent abuses.
Health Care Industry
WebDanzon, Patricia M. "Hidden Overhead Costs: Is Canada's System Really Less Expensive?" Health Affairs (Spring 1992): 21-43.. Frech, H. Edward, III, ed. Health Care in America: The Political Economy of Hospitals and Health Insurance. 1988. Manning, Willard, et al. "Health Insurance and the Demand for Medical Care: Evidence from a Randomized Experiment."
The Large Benefits of Short-Term Health Insurance
WebThe 1996 Health Insurance Portability and Accountability Act (HIPAA) allowed state governments to have short-term limited duration health insurance (STLDI). The contract could last up to 364 days. But after the Patient Protection and Affordable Care Act (PPACA, henceforth ACA) was implemented in 2014, the Obama administration, …
Why both liberals and conservatives will lose on health care
WebLiberals want to remedy this situation with some form of universal health care, while conservatives would like to the system to adopt more free market mechanisms to hold down costs. Both will likely fail. The basic problem here is that health care has grown to 17% of GDP, a level where the industry is simply too powerful to reform.
Sowell on Health Care
WebThomas Sowell has an essay in three parts on the issue of universal health care coverage. In part one, he challenges politicians who continue to treat profits as evil, in spite of the superior performance of capitalism relative to socialism over the last half century.. With profits eliminated, in theory there should have been lower prices for the …
The Economics of Aging: Living Longer versus Living Better
WebCertainly, there are economic issues raised by an aging population with proportionately more years lived in ill health. In a few years (2030), one-fifth of Americans will be over the age of 65, a doubling over the past 60 years. The retirement age remains 65, and that standard is affirmed by Social Security and Medicare. 2.
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