FROM ISSUE NUMBER 93 - FALL 1988 GO TO TABLE OF CONTENTS

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Containing medical costs: why price controls won’t work

WILLIAM J. BAUMOL

MEDICAL CARE, like higher education and many other vital services, has become steadily more expensive in recent years. The rising price of medical care constitutes a serious social problem, particularly in its effects upon the less affluent. A commitment by senior policymakers to find a rational and effective solution is urgently required.

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