ECO440H5 Chapter Notes -Utopia, Social Welfare Function, Opportunity Cost
Document Summary
It is important to emphasise that there is no single correct answer or solution to the problem and that health economics has the ability to deliver utopia or at least move things in such a direction. In terms of health expenditure in the uk, for example, 67. 2 billion was spent on the national. Health service (nhs) in 2002, equivalent to 1200 per person, compared to 3 billion 30 years ago, which was equivalent to 58 per person. There are now over 1. 2 million employees in the. Nhs, a figure which has doubled over 40 years. 5 the additional resources have reaped their rewards, witnessed, for example, by the improvements in life expectancy. However, it should be remembered that more does not necessarily mean better health care, and diverting additional resources into health care facilities and services will not automatically generate an improvement in the health of the population.
