Foundations of Health Economics: William Petty
In exploring the foundations of health economics, William Petty's work during the plague era offers valuable insights. His early cost-benefit analysis highlighted strategies for disease control, revealing a 10-fold benefit over costs. Given today's healthcare challenges, Petty’s entrepreneurial spirit reminds us of the importance of effective decision-making. Can his historical perspective guide modern HTA processes? Credit: Oxford Population Health
About William Petty
Sir William Petty was an English economist, physician, scientist and philosopher. He first became prominent serving Oliver Cromwell and the Commonwealth in Ireland. He developed efficient methods to survey the land that was to be confiscated and given to Cromwell's soldiers. He also remained a significant figure under King Charles II and King James II, as did many others who had served Cromwell. Petty was also a scientist, inventor, and merchant, a charter member of the Royal Society, and briefl...
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