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Economic Cost and Benefit Analysis

Perform an economic cost/benefit analysis on one of the following issues. You must have both 2-3 costs and benefits and conclude whether a net benefit or cost exists.

- Move to government provided national health care system

- Increase tax rates on the rich (back to pre-2001 levels)

- Close borders and implement an immigrant guest worker program

Please answer discussion questions with a maximum of 250 words explaining your position on the issue and supporting it with evidence.

Solution Preview

Move to government provided national health care system

COST: implementing the health system (hiring doctors, nurses, buying equipment); Educating people on the new system
BENEFIT: Healthcare for everyone; People can go for preventative checkups which might save the system; more education for people on health issues; less deaths due to financial reasons

The heath care is now supported by money not taking into account the health of individuals. If you have money, you can get health care; otherwise, you might wait to see a doctor until it is too late. However, this is at a huge cost; According to a website at: total spending was $2.4 TRILLION in 2007, or $7900 per person. Total health care spending represented 17 percent of the gross domestic product ...

Solution Summary

This solution discusses economic cost analysis and benefit analysis.

$2.19