Chapter

The Health of Nations: The Contribution of Improved Health to Living Standards

Edited by William D. Nordhaus

in Measuring the Gains from Medical Research

Published by University of Chicago Press

Published in print April 2003 | ISBN: 9780226551784
Published online February 2013 | e-ISBN: 9780226551791 | DOI: http://dx.doi.org/10.7208/chicago/9780226551791.003.0002
The Health of Nations: The Contribution of Improved Health to Living Standards

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This chapter explores how measures of national income accounting might incorporate improvements in the health of a country's population. It discusses the theory of the measurement of national income, examines some of the shortcomings of traditional concepts, and proposes a new concept that can be used to incorporate improvements in health status in the U.S. The chapter argues that national income accounts would more accurately reflect changes in welfare if they properly measured the output of the health care sector.

Keywords: national income; health status; population; living standards; health care sector

Chapter.  9008 words.  Illustrated.

Subjects: Econometrics and Mathematical Economics

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