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Measuring the Gains from Medical Research

An Economic Approach

by Kevin M. Murphy Editor · Robert H. Topel Editor


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In 1998, health expenditures in the United States accounted for 12.9% of national income-the highest share of income devoted to health in the developed world. The United States also spends more on medical research than any other country-in 2000, the federal government dedicated $18.4 billion to it, compared with only $3.7 billion for the entire European Union. In this book, leading health economists ask whether we are getting our money's worth.

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University of Chicago Press
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Measuring the Gains from Medical Research
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