Health care is among the most technologically advanced sectors, and it also constitutes a large and growing share of the U.S. economy. Between 1960 and 2005, the share of health-care spending in U.S. gross domestic product more than tripled, growing from 5.2% to 16%; this growth is likely to continue, with health care conceivably expanding to encompass up to one-third of national output by the year 2050. ; This Economic Letter summarizes the presentations made at a symposium by the same title sponsored by the Center for the Study of Innovation and Productivity and held at the Federal Reserve Bank of San Francisco on May 25, 2007.
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Article provided by Federal Reserve Bank of San Francisco in its journal FRBSF Economic Letter.
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