Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Friday 4 March 2011
The inefficiency of U.S. medical treatment.
Health and medical expenditure in the U.S. seems to be double that of most other developed countries. Yet life expectancy is no better in the U.S. than in the latter countries. Amazing. Or perhaps its all down to lifestyles: too much calorie intake in the U.S.
See chart here or (the original source), p. 111 here.
(Hat tip to Larry Willmore author of “Thought du jour”)
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