%0 Journal Article
%T Why Is Medical Care Expensive in the US?
%A Kaz Miyagiwa
%A Paul Rubin
%J Theoretical Economics Letters
%P 68-71
%@ 2162-2086
%D 2014
%I Scientific Research Publishing
%R 10.4236/tel.2014.41010
%X <p class=\"MsoNormal\" style=\"text-align:justify;\">
	<span lang=\"EN-US\"><span style=\"font-family:Verdana;\">America spends more
on medical care than any other nation, with no noticeable difference in
results. It is commonly thought that this is a result of a defect in the
organization of medicine in the US, which can be repaired by ˇ°reform.ˇ± However,
medicine is a labor-intensive good and labor is more expensive in the US. We
show that these conditions will invariably lead to a higher price and a higher
percentage of GDP spent on medicine. Thus, while reforms may improve the
functioning of the health care sector, they are unlikely to have a major effect
on spending levels.</span><o:p></o:p></span> 
</p>
<p class=\"MsoNormal\" style=\"text-align:justify;\">
	<span style=\"font-family:Verdana;\" lang=\"EN-US\"> </span> 
</p>
%K Medical Care Expenditures
%K US Health Care Reform
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=42806