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Measuring the Gains from Medical ResearchAn Economic Approach$
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Kevin M. Murphy and Robert H. Topel

Print publication date: 2003

Print ISBN-13: 9780226551784

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226551791.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 28 June 2022

The Health of Nations: The Contribution of Improved Health to Living Standards

The Health of Nations: The Contribution of Improved Health to Living Standards

Chapter:
(p.9) Chapter One The Health of Nations: The Contribution of Improved Health to Living Standards
Source:
Measuring the Gains from Medical Research
Author(s):
William D. Nordhaus
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226551791.003.0002

This chapter explores how measures of national income accounting might incorporate improvements in the health of a country's population. It discusses the theory of the measurement of national income, examines some of the shortcomings of traditional concepts, and proposes a new concept that can be used to incorporate improvements in health status in the U.S. The chapter argues that national income accounts would more accurately reflect changes in welfare if they properly measured the output of the health care sector.

Keywords:   national income, health status, population, living standards, health care sector

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