New measures can help to measure economic “externalities”

BMJ 1995; 311 doi: https://doi.org/10.1136/bmj.311.7009.878a (Published 30 September 1995) Cite this as: BMJ 1995;311:878
  1. Ed Mayo
  1. Director New Economics Foundation, London E1 1JE

    EDITOR,--Peter Draper and Hugo Crombie ask whether the health sector can make a useful contribution to macroeconomic policy.1 This marks an important divergence from the school of thinking that health matters should be treated in economic terms entirely as consumption with no (monetised) return on expenditure.

    An economic framework which understands how health outcomes themselves feed back into the process of sustainable wealth creation offers a starting point. For the purpose of discussion, we have, …

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