Public and private roles in health

Abstract

The appropriate role of the state in health is complex both in economic theory and in practice. Theory identifies three reasons for state action: public goods or services with large externalities (involving efficiency); poverty (involving equity); and failings peculiar to insurance markets for health care (where both inefficiency and inequity arise). The insurance domain presents the most costly and difficult problems, and explains why -- in contrast to other sectors -- government tend to finance an increasing share of health care as incomes rise.

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