Health economics has been a field of economics that draws great interest since the publication of Kenneth J. Arrow’s article, “Uncertainty and the Welfare Economics of Medical Care” in 1963. In neoclassical economics, human capital is perceived to be one of the major determinants of long-term economic growth. Education and healthcare play a key role in the formation of human capital. Without healthy labor, the production process is severely obstructed. The degradation of the general health also has negative implications for the society that go beyond the marketplace. Better health is central to human happiness and well-being. It also makes an imperative contribution to economic progress, as healthy populations live longer, are more productive and save more. Current State of Health Care in Egypt It is no secret that Egypt has a failing and unequal public health service, which does not adequately respond to the demands of the majority of citizens. The healthcare service is not only underfunded but also understaffed. Egypt lacks well-trained nursing staff and doctors, in addition to the poor state of public hospitals. According to the World Bank, in 2012 Egypt had 0.5 hospital beds per…
