What does the rising cost of healthcare buy us?
February 21, 2011
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3:14Now PlayingWhat does the rising cost of healthcare buy us?
YouTube Description
as posted by the channelStudentsHear Antony Davies live at the Exploring Liberty or Scholarship and a Free Society Seminar this summer
Economics professor Antony Davies demonstrates that over the last 40 years, the cost of healthcare in the U.S. has been rising much faster than the cost of other goods. However, he suggests that it is also important to consider what that higher cost has bought us. What have been the changes in the quality of healthcare over that same period? Using data on mortality rates, Prof. Davies demonstrates that the increased cost of healthcare has been accompanied by important improvements, which save hundreds of thousands of lives each year. While the improvements in medical care are not the only factors leading to increased costs, these better outcomes are significant, and should not be forgotten in today's healthcare debates.
See a PDF of the presentation here:
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