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July 19, 1947


JAMA. 1947;134(12):1021-1028. doi:10.1001/jama.1947.02880290035015

Medical Economics 

MEDICINE AND ECONOMICS  ERNEST E. IRONS, M.D. ChicagoCurrent views of the nature and content of what is called economics are as varied and often as bizarre as are some of the plans devised by idealists for the improvement of the human race and the establishment of Utopia. Some are based on misinformation or on partial information, others on prejudice with a minimum of knowledge.Economics has been defined as a classless scientific study of the means by which people earn their living and of how they spend their income.Up to a few years ago, few physicians knew or even thought much about questions of supply and demand, of competition, of financial systems, of theories of government. We along with most other citizens went about our businesses or professions, content to live under a democratic government. In spite of its easily recognized faults, it suited us and

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