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The evolution of lighting vs. cholesterol treatments: a tale of innovation and value

An excerpt from Why Not Better and Cheaper: Healthcare and Innovation by James B. Rebitzer and Robert S. Rebitzer with permission from Oxford University Press, © 2023 by Oxford University Press. In a famous essay, Nobel prize-winning economist William Nordhaus…

An excerpt from Why Not Better and Cheaper: Healthcare and Innovation by James B. Rebitzer and Robert S. Rebitzer with permission from Oxford University Press, © 2023 by Oxford University Press.

In a famous essay, Nobel prize-winning economist William Nordhaus studied the evolution of lighting. From medieval times until the beginning of the 19th Century, the most advanced lighting device was the wax candle.  The 19th Century witnessed an …

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The evolution of lighting vs. cholesterol treatments: a tale of innovation and value