ABSTRACT
This chapter addresses the inequality of pandemic outcomes. Economists debate whether or not economic inequality hurts a country’s prospect for economic growth; however, economic inequality creates inferior health outcomes for those with lower socioeconomic and/or marginalized status. The individuals in these categories may suffer from pre-existing health conditions, a lack of nutritious food, and adequate resources for healthcare. Economists treat health like other investments that enhance future productivity. The model of derived demand provides a framework. The demand for healthcare is derived from an individual’s demand for health. The demand for healthcare is a function of both physician and patient factors. Physicians impact the demand for healthcare through their positions in the system. Physicians impact the demand for healthcare in their roles as service providers and patient advisors. The principal-agent relationship creates an environment for these factors.
