alexa Healthcare Spending: Blessing or Curse

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Healthcare Spending: Blessing or Curse

 Readers of the Journal of Developing Drugs are well schooled in natural sciences. But few are likely to have time or inclination to dwell in the world of economic affairs even though the course of scientific discovery is as much influenced by economic events as it shapes the unfolding world of future technology. Technology is an endogenous variable in neoclassical economics. Its interaction with the economy is not fully understood but is known to be the one of the most, if not the most, important factor driving long term economic development, jobs and prosperity. New technology can quickly reshape the economy. Take for example the automobile industry. It grew from virtually nothing to a substantial proportion of the economy by mid-century if one includes related industries such as tyres, petroleum and repair. Or consider development of internet, which accounted for 21 percent of GDP growth over the past five years [1]. National health expenditures (NHE) are currently 18 percent of the economy but are expected to reach 25 percent by 2037 [2]. Is this growth in the health sector a blessing or a curse?

Citation: Hilsenrath P, Fischer K (2013) Healthcare Spending: Blessing or Curse. J Develop Drugs 2:e125. doi: 10.4172/2329-6631.1000e125

 
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