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Question - Health care in the US continues to be a major topic of discussion. It has been one of the most important issues of the last two national political campaigns, and will likely to continue to be. There are estimates that health care accounts for almost 18% of the nation's GDP.
In your first post respond to the following:
1) Why does health care spending continue to grow in the U.S.? Consider specific, demonstrable reasons, as opposed to vague concepts like "greed," etc.
2) How does health insurance distort the normal supply and demand dynamics in health care, as opposed to other products and services?
3) Consider marginal cost and marginal benefits of a service that is at least partially covered by insurance. What other considerations make health care different from other products and services?
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