Question

Which has been more influential in raising life expectancy, economic growth or development of medical technology? What evidence would support your answer? What evidence would contradict your answer? What evidence would support either answer?

Answer 1

The economic growth brings higher disposable income and purchasing power that helps people to access the medical technology. It increases the life expectancy. Besides, the economic growth is the outcome of the promotion of private property rights that also fuels the R&D in medical technologies. So, it benefits in the increase in life expectancy. Therefore, it is the policy of promotion of private property rights and subsequent economic growth, that have led to the increase in the life expectancy.
The evidence of higher economic growth and disposable income of the individuals in the ORCD countries, has caused to decrease in the mortality rates of different class of people. The economic growth has created the demand for the superior technology that has been catered by the health care firms by coming up new technologies to cure the health care issues.
Though, the economic growth does not guarantee the increase in the life expectancy when there is an unequal distribution of the resources among the people. It is the reason that a country like Switzerland with less economic growth, will have a superior life expectancy. But, a country like China with higher economic growth will have a relatively poor life expectancy.
Here, the overall trend of increase in life expectancy and the economic growth is in the same direction. It means that economic growth contributes to the increase in the life expectancy. Though, the impact is maximized when there is more equality in the distribution of income.