Health Economics Commons^™

Recession Proof Pills: An Examination Of The Relationship Between Recession Economics And Pharmaceutical Expenditures, Kevin Gray

Annual Undergraduate Conference on Health and Society

The first decade of the 21st century proved to be a time of turbulence and volatility in the worldwide economy. Oddly enough, even as Americans’ disposable income decreased, spending on health care steadily increased. Americans spent $249.9 billion on prescription drugs in 2009, contrasted against $120.9 billion in 2000—a 105% increase.1 We may question the overall ramifications of such increases in pharmaceutical sales and the correlation to other economic factors. That is, how was the pharmaceutical sector able to boast gains when the housing market collapsed? One answer is that people place a priority on their health, even with limited …