Something at TCS. To calculate the cost of a health care system you not only should use what is actually spent, but what is the opportunity cost of the waiting that people have to do for treatment?
The figures I use are quite obviously wrong, very back of the envelope, but perhaps at least a useful guide to the magnitude of those costs?
I’m entirely aware that this argument can be used to call for more spending on the health care system in the UK. As Jonny Munkhammar pointed out, given the reluctance of people to pay taxes, it is likely that a tax funded program will in fact have less spent on it than people would be willing to spend if they were doing so directly.
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