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The “Father” of Health Economics
By Dr. David Edward Marcinko MBA, CMP™
[Editor-in-Chief]
Professor Kenneth Arrow is a Nobel laureate who explored the characteristics of a perfectly competitive marketplace for an ordinary commodity – and how the healthcare industry deviated from those characteristics – and what aspects of health care might explain these deviations.
But, in as much as he did all this in the 1960’s, he is known today as the “father” of health [not health care] economics.
LINK: https://www.nobelprize.org/prizes/economic-sciences/1972/arrow/facts/
Required ME-P Reading
In fact, his 1963 paper launched health economics as a unique discipline and is as close to required reading as can exist for followers of the ME-P and our related websites and educational consulting firms [sidebar].
Assessment
Arrow Title: “Uncertainty and the Welfare Economics of Medical Care”
Link: Arrow
Commentary
- Uwe Reinhar0t PhD: http://economix.blogs.nytimes.com/2010/08/06/is-health-care-special/
Glossary: Dictionary of Health Economics and Finance
Conclusion
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