Healthy, Wealthy, and Wise

Healthy, Wealthy, and Wise

5 Steps to a Better Health Care System, Second Edition

Authors: John F. Cogan, R. Glenn Hubbard, Daniel P. Kessler
ISBN: 978-0-8179-1064-8
Publication Date: 3/25/2011
Pages: 176

Health care in the United States has made remarkable advances during the past forty years. Yet our health care system also has several well-known problems: high costs, significant numbers of people without insurance, and glaring gaps in quality and efficiency—and the Patient Protection and Affordable Care Act of 2010 is not the answer. This second edition of Healthy, Wealthy, and Wise details a better approach, offering fundamental reform alternatives centering on tax changes, insurance market changes, and redesigning Medicare and Medicaid.

The book proposes five specific reforms to improve the ability of markets to create a lower-cost, higher-quality health care system that is responsive to the needs of individuals, including increasing individual involvement, deregulating insurance markets and redesigning Medicare and Medicaid, improving availability and quality of information, enhancing competition, and reforming the malpractice system. The authors show that, by promoting cost-conscious behavior and competition in both private markets and government programs such as Medicare and Medicaid, we can slow the rate of growth of health care costs, expand access to high-quality health care, and slow down runaway spending.

John F. Cogan is the Leonard and Shirley Ely Senior Fellow at the Hoover Institution, Stanford University.

R. Glenn Hubbard is the Dean and Russell L. Carson Professor of Finance and Economics, Graduate School of Business, and a professor of economics at Columbia University. He is also a research associate at the National Bureau of Economic Research and a visiting scholar at the American Enterprise Institute.

Daniel P. Kessler is a professor of economics, law, and policy at the Stanford University Graduate School of Business; a senior fellow at the Hoover Institution, Stanford University; and a research associate at the National Bureau of Economic Research.

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Daniel P. Kessler

Daniel Kessler is a senior fellow at the Hoover Institution and a professor at the Graduate School of Business at Stanford University, where he teaches courses on economics, public policy, and the health care industry. He is also a professor at the Stanford Law School and a professor, by courtesy, of health research and policy in the School of Medicine. continued

John F. Cogan

John F. Cogan is the Leonard and Shirley Ely Senior Fellow at the Hoover Institution. Cogan is an expert in domestic policy. His current research is focused on US budget and fiscal policy, social security, and health care. He has published widely in professional journals in both economics and political science. His most recent book, Healthy, Wealthy, and Wise: Five Steps to a Better Health Care System (Hoover Institution Press, 2011), coauthored with Glenn Hubbard and Daniel Kessler, recommends federal policy changes to improve US health-care markets.


R. Glenn Hubbard

R. Glenn Hubbard is the dean of Columbia University Business School, where he is also the Russell L. Carson Professor of Finance and Economics, and a member of the Working Group on Health Care Policy. Hubbard has been at Columbia University since 1988; he has been a visiting professor at Harvard’s Kennedy School of Government and Harvard Business School, as well as the University of Chicago. He served as deputy assistant secretary of the U.S. Treasury Department for Tax Policy from 1991 to 1993. From February 2001 until March 2003, he was chairman of the U.S. Council of Economic Advisers, at which time he also chaired the Economic Policy Committee of the Organisation for Economic Co-operation and Development (OECD). He is currently a director of ADP, BlackRock Closed-End Funds, KKR Financial Corporation, and Met Life. Hubbard received his BA and BS degrees summa cum laude from the University of Central Florida and holds AM and PhD degrees in economics from Harvard University.

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