America: A healthy or healthcare economy? The sickness at the heart of US GDP
The US economy heavily depends on healthcare, driving job growth and spending. Despite high healthcare expenditure, health outcomes lag behind. Inefficiencies like high costs and lack of universal coverage challenge resource allocation for better health.
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The United States' economy is closely intertwined with its healthcare sector, with a significant portion of job growth and spending stemming from healthcare and social assistance services. The country's high healthcare expenditure, accounting for over $4 trillion annually, is notably above that of comparable economies. Despite this substantial spending, America's health outcomes are subpar, with lower life expectancy and higher rates of obesity compared to other advanced nations. The inefficiencies in the healthcare system, including high costs, lack of universal coverage, and administrative waste, contribute to the economy's reliance on healthcare spending. While some argue that healthcare spending supports job creation and GDP growth, others highlight the need for more efficient allocation of resources to address preventable illnesses and improve overall health outcomes. Further research is necessary to determine the extent to which inefficiencies in the healthcare system perpetuate economic growth at the expense of public health.
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5 commentsMy theory behind this observation was that as the U.S. gradually de-industrialized post-NAFTA and post-WTO, our politicians leaders used healthcare as a source of jobs that couldn't be outsourced to Mexico or Asia.
From my on-the-ground perspective, an important consideration in the US' poor health outcomes is addiction. https://news.ycombinator.com/item?id=39071316
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