12.3 The Economics of Healthcare
MyEconLab Concept Video
Governments in the United States spend more on healthcare than on any other item, and by a big margin. The key reason is that if left to the market alone healthcare would be underprovided and unfairly distributed.
You are now going to see how governments influence the provision of healthcare, how healthcare markets in the United States compare with those in some other countries, and how it might be possible to improve on our current healthcare programs.
We begin by seeing why an unregulated market without government intervention would underprovide and unfairly distribute healthcare—why there would be a healthcare market failure.
Healthcare Market Failure
Healthcare consists of healthcare ...
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