Fogel: Healthcare Demand Should Be Rising

This is a great post, and illustrates the power of the blogging medium. Mankiw, with a substantial following, can highlight an insightful tidbit from Fogel that many will have otherwise missed.

Incidentally, Fogel wrote one of the most staggering books I have ever read. It is no doubt controversial (mainly because many misconstrued the whole point), but I have never come across a book that so thoroughly gutted conventional wisdom and was so ambitious in the size of the sacred cow that it was skewering. Regardless of what you think about it, reading it you will feel the g-forces of uncomfortable rationality.