Wednesday, May 28, 2014

econ review question 28

http://www.youtube.com/watch?v=eYsf5rIKgHc

consider different types of goods (inferior, normal).

how is health care like a toy dog?

use the idea of health as a normal good to explain why we would expect to see a rising portion of GDP expended on health as we become wealthier.

here's the usual perspective:

http://www.pbs.org/newshour/rundown/health-costs-how-the-us-compares-with-other-countries/


how does economic signaling come into play with health care? health insurance?

if we aren't getting more for our dollar, why do we keep spending more? greedy insurance companies? greedy health care providers? was there ever a time when human beings weren't greedy? some age of generosity? do you foresee human beings becoming universally altruistic in the future? if not, what should we do?

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