Economic Policy

Economic Policy and Health

Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labor market, national ownership, and many other areas of government interventions into the economy.

Economic policy directly and indirectly influences public health and healthcare systems. It can affect health by changing levels of income, education, and employment, which are all known determinants of health.

Economic Policy and Healthcare Systems

Healthcare systems are often the subject of economic policy. Governments may directly fund healthcare through taxation, ensuring that everyone has access to healthcare regardless of their ability to pay. This is known as a single-payer system. Alternatively, governments may subsidize healthcare in a multi-payer system, where healthcare providers are paid by multiple payers, such as insurance companies, rather than by a single government source.

Economic Policy and Public Health

Economic policy can also influence public health indirectly. For example, economic policies that lead to income inequality can result in health disparities. Health disparities are differences in health outcomes and their determinants between segments of the population, as defined by social, demographic, environmental, and geographic attributes.

Economic Policy and Health Research

Economic policy can also impact health research. Government funding for health research can lead to new treatments and therapies, while economic policies that favor private sector research may lead to the development of profitable but not necessarily beneficial treatments.

Economic Policy and Global Health

Economic policy also plays a role in global health. Policies that promote global trade may improve health by increasing access to medical technologies and pharmaceuticals. However, they can also lead to health risks if they lead to the spread of harmful products or environmental degradation.

See Also

• Health economics
• Public health
• Healthcare reform
• Global health