Daily quote by Kenneth Arrow

• We have the possibility of diverting other resources to the medical field, but that means some subtraction somewhere else. We are sufficiently close to full employment that there is no great amount of unused resources to draw upon for this purpose. We do, of course, draw to some extent upon doctors trained in other countries, but quantitatively speaking, this is not very much of a help. The basic scarcity problem cannot be avoided.
  • "Theoretical Issues in Health Insuarance", Noel Buxton Lecture for 1973 at the University of Essex, published in 1976.