Forbes August 15, 2017
In Part 1, we learned that real per capita health spending saw a 25-fold increase the 8 decades starting in 1929 even as real per capita GDP grew only 5-fold during the same period.
In Part 2, we learned that annual excess growth in inflation-adjusted health spending above and beyond general economic growth has been a persistent phenomenon: from 1929 to 2015, the average rate of growth in real per capita health spending (4.1%) was slightly more than double the rate experienced in the rest of the economy (2%).
Today we will examine the consequences of this outsized growth in health spending: health spending–which includes both spending on health services (“health care”) as well as health insurance–absorbs an ever-growing fraction...
Today's Sponsors
Today's Sponsor