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Optimality, Efficiency, And Equity: A Comparative Analysis Of Australia’S Healthcare System, Christos Makridis

Undergraduate Economic Review

With entitlement spending dramatically increasing, poised for further increases, healthcare has been placed at the forefront of economic domestic policy. In surveying the international landscape, few countries have successfully sustained an efficient and equitable healthcare industry. In this sense, nexus question in the health care debate becomes balancing the desire for cost-effectiveness & efficiency with equity. As such, this article will describe the historical and economic developments that contributed to the development of the American medical system. The article will also examine the success of Australia’s two tiered health care system and provide policy recommendations based on the findings.