The Economics Thread

[berbatrick]

"Put simply, a significant share of the US’s 'booming' economy is generated by sickness. Inefficiencies in its healthcare system may also prop up US GDP by sustaining high levels of costly healthcare-related expenditure, whether through overtreatment or the ongoing treatment of preventable illnesses".



Yeah this is something I realised during the M4A debate. The US healthcare system has a function similar to the mythical digging-and-covering ditches programs of the New Deal. It forces money circulation and leads to stable jobs. A healthcare system focusing on health outcomes would cut massive amounts of bureaucracy and harm the economy, at least in the short term.

 

[VorZakone]

"Put simply, a significant share of the US’s 'booming' economy is generated by sickness. Inefficiencies in its healthcare system may also prop up US GDP by sustaining high levels of costly healthcare-related expenditure, whether through overtreatment or the ongoing treatment of preventable illnesses".



Yeah this is something I realised during the M4A debate. The US healthcare system has a function similar to the mythical digging-and-covering ditches programs of the New Deal. It forces money circulation and leads to stable jobs. A healthcare system focusing on health outcomes would cut massive amounts of bureaucracy and harm the economy, at least in the short term.

That FT article is very interesting, thanks for sharing.

 

[Brwned]

"Put simply, a significant share of the US’s 'booming' economy is generated by sickness. Inefficiencies in its healthcare system may also prop up US GDP by sustaining high levels of costly healthcare-related expenditure, whether through overtreatment or the ongoing treatment of preventable illnesses".



Yeah this is something I realised during the M4A debate. The US healthcare system has a function similar to the mythical digging-and-covering ditches programs of the New Deal. It forces money circulation and leads to stable jobs. A healthcare system focusing on health outcomes would cut massive amounts of bureaucracy and harm the economy, at least in the short term.

I find it hard to believe nearly half of new private jobs in the last 2 years are in healthcare! I don’t disbelieve it, and I might explore the data…but no part of that makes sense to me. But then none of US healthcare does!

 

[oneniltothearsenal]

I find it hard to believe nearly half of new private jobs in the last 2 years are in healthcare! I don’t disbelieve it, and I might explore the data…but no part of that makes sense to me. But then none of US healthcare does!

Why doesn't that make sense to you? It makes perfect sense to me coming out of the pandemic and when a lot of other sectors have seen large rounds of layoffs (like big tech).

 

[berbatrick]

I find it hard to believe nearly half of new private jobs in the last 2 years are in healthcare! I don’t disbelieve it, and I might explore the data…but no part of that makes sense to me. But then none of US healthcare does!

yeah, it's a bit wild. but thinking about it, healthcare is about 20% of the US economy (and likely a bigger proportion of the private sector), so it shouldn't be a massive surprise, especially with the context of covid and tech layoffs that he mentioned.