Health economics took off in 1970 or thereabouts, just after the take-off date for the economics of education. Although early health economics made use of human capital theory as did the economics of education, it soon took a different route inspired by Arrow's work on medical insurance. The economics of education failed to live up to its promising start in the 1960s and gradually ran out of steam. The economics of health, however, has made steady theoretical and empirical progress since 1970, principally in coming to grips with the impications of supplier-induced demand and the difficulties of evaluating health care outcomes.
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Paper provided by University of Exeter, School of Business and Economics in its series Discussion Papers with number
98/04.
Length: 36 pages Date of creation: 1998 Date of revision: Handle: RePEc:fth:exetec:98/04
Contact details of provider: Postal: School of Business and Economics University of Exeter Streatham Court Rennes Drive Exeter EX4 4PU Phone: (01392) 263218 Fax: (01392) 263242 Web page: http://www.exeter.ac.uk/sobe/ More information through EDIRC
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