4 ms·

But...free NHS healthcare? /s but maybe not really

• Retric 3y ago
  Healthcare is one of the best arguments for PPP adjustments to GDP. The value of healthcare is defined in terms of results not how much is charged for those services.
  • FirmwareBurner 3y ago
    >The value of healthcare is defined in terms of results not how much is charged for those services. But how do you measure "healthcare results" then? Infant mortality? Life expectancy? Waiting times? Percentage of population who gets some sort of services regardless of quality? The quality of those services even though not everyone can get them?
    • Retric 3y ago
      Thus the debate. Though for healthcare outcomes including pain and suffering seems like the obvious choice. Getting an unnecessary MRI costs money but doesn’t provide any net benefit. As such treatments aren’t what’s valuable. Similarly preventing a Cholera outbreak via proper sanitation is more valuable than treating that outbreak. Defining GDP in such a way as to avoid the broken window fallacy is tricky.