I'm always nervous when economists & journalists start practicing medicine, even Christopher Farrell.
Farrell claims that (1) When it's your own health, we all quit our whining about healthcare costs and want the best we can find, and (2) Healthcare improvements have paid off so big in longevity that businesses should be willing to pay for all the (potential) extra worker productivity.
I can agree with the first (even though one is a financial decision and the second is rarely anything other than emotional) but I'm cynically suspicious of the quality of the data used for the second claim.
Besides, if we're extending lifespans then why don't people just enjoy a longer retirement? Oh, right, their healthcare costs have risen so much that they actually have to work for twice as long as the longevity benefit.
http://www.businessweek.com/bwdaily/dnflash/sep2004/nf20040927_5435.htm
This Business Week article requires registration but I don't think you have to be a subscriber to the paper version.
Farrell claims that (1) When it's your own health, we all quit our whining about healthcare costs and want the best we can find, and (2) Healthcare improvements have paid off so big in longevity that businesses should be willing to pay for all the (potential) extra worker productivity.
I can agree with the first (even though one is a financial decision and the second is rarely anything other than emotional) but I'm cynically suspicious of the quality of the data used for the second claim.
Besides, if we're extending lifespans then why don't people just enjoy a longer retirement? Oh, right, their healthcare costs have risen so much that they actually have to work for twice as long as the longevity benefit.
http://www.businessweek.com/bwdaily/dnflash/sep2004/nf20040927_5435.htm
This Business Week article requires registration but I don't think you have to be a subscriber to the paper version.