Regarding Tom's idea:
The market value of something is not determined only by the preferences
of economically active (working) people. People do move consumption
possibilities over life, and also retired people consume.
Also, I believe that people look forward somewhat and realise that
today's advances of medical technology may benefit themselves in the
future. To put it provocatively, let today's elderly be the guinea-pigs
of tomorrow's established medicine.
Katarina Steen Carlsson
Lund University, Sweden
Getzen wrote:
I was thinking of writing a brief piece arguing that the market "value"
of
medical care advances may be declining as the raw mortality among
economically active persons declines--or rather that the willingness of
workers to pay for advances that mostly benefit non-workers may decline.
Does that seem sensible, or senseless, to anyone out there?
Tom Getzen, Temple U / iHEA
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