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Economics Lecture Two (view source)
Revision as of 11:41, September 5, 2009
, 11:41, September 5, 2009→Example: the National Debate over Health Care: one-sixth of economy
==Example: the National Debate over Health Care==
==Example: the National Debate over Health Care==
By far the single biggest industry in the United States is health care (medical care). It represents a massive one-seventh of our entire economy, and it is sharply increasing in expenditures each year. It has three major components: government-controlled (Medicare and Medicaid), insurance-controlled, and private pay or uninsured. Many are unhappy with our system, yet it is in many ways the best in the world. For example, the survival rate for the most prevalent form of cancer in men -- prostate cancer -- is 92% in the United States, but the survival rate for the same disease in England is only 51% under its government-controlled system.
By far the single biggest industry in the United States is health care (medical care). It represents a massive one-sixth of our entire economy -- including expenditures of more than $2.2 ''trillion'' -- and costs are sharply increasing each year. It has three major components: government-controlled (Medicare and Medicaid), insurance-controlled, and private pay or uninsured. Many are unhappy with our system, yet it is in many ways the best in the world. For example, the survival rate for the most prevalent form of cancer in men -- prostate cancer -- is 92% in the United States, but the survival rate for the same disease in England is only 51% under its government-controlled system.
Most other countries have some form of government-controlled, or socialized, medicine. In the countries of Canada, North Korea and Cuba, it is actually illegal to pay money to a doctor simply to see you. The government control there is so great that you can only see a doctor paid by the government in those countries. In England, there is a two-tiered system: good care is provided to those who can afford to pay for it, and free but inferior care is provided by the government to those who cannot.
Most other countries have some form of government-controlled, or socialized, medicine. In the countries of Canada, North Korea and Cuba, it is actually illegal to pay money to a doctor simply to see you. The government control there is so great that you can only see a doctor paid by the government in those countries. In England, there is a two-tiered system: good care is provided to those who can afford to pay for it, and free but inferior care is provided by the government to those who cannot.