ABSTRACT
GET and the FEDERAL RESERVE: the key
formulators of the USA’s economic policy.
quality-adjusted life years (I1)
A year of life adjusted by expected health
or illness. A year of healthy life expectancy
= 1, of unhealthy life expectancy 5 1. Health care is beneficial if it generates
positive QALYs; efficient health care ac-
tivity occurs where cost per QALY is as
low as possible. As low cost per QALY
health care is prioritized, this approach to
allocating health resources is criticized for
its bias against the old and very sick.
