The Evolution of U.S. Health Care Spending Post World War II: An Empirical Analysis: 1948-2009

In 1948 Americans spent five percent of total consumption on health care. Six decades later (2009) this had risen to twenty-one percent. What happened? Why did the percentage continue to grow? And given current factors and trajectories, this probably will continue in the foreseeable future. The problem is that a larger health care percentage results in a smaller percentage of other valued consumption: housing, food, education, transportation, and so on. Finally, add health care’s bureaucrat...