Economics: The Patient's Purse

The U.S. will spend an estimated $33 billion for medical care in 1964. Government agencies, from federal to local, will put up somewhat more than $8 billion; the balance of almost $25 billion will come more directly out of the pockets of ailing individuals and their families. Who gets the money? And is the patient's purse being well treated?

The answers are usually lost in a statistical jungle. Now Seymour E. Harris, a Harvard professor emeritus of political economy, has tracked them down in a fact-packed book of 508 pages, The Economics of American Medicine (Macmillan; $8.50). In general, he...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!