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The untold standards of living story : the GDP value of twentieth century health improvements in developed economies
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Hickson, Kerry Jane (2012) The untold standards of living story : the GDP value of twentieth century health improvements in developed economies. Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2012 (Number 105).
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Text (Working paper )
WRAP_105.2012_hickson.pdf - Published Version Download (429Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
Economists are aware that conventional measures of national income do not capture everything
that is important to individuals. In particular, the value of huge improvments in health over the
twentieth century has gone uncalculated. Usher (1980) and Nordhaus (2002) have emphasised the
virtues of including mortality improvments in some form of extended national income measure. This
paper therefore sets out a methodology that can be used to calculate the value of mortality and
morbidity improvements. The results indicate that health improvements in developed economies
have been worth at least $1 trillion. As such not accounting for historical health gains leads to a
significant underestimate of improvements in standards of living and economic development.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions |
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Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Medical economics -- Great Britain, Mortality -- Great Britain, National income -- Great Britain | ||||
Series Name: | CAGE Online Working Paper Series | ||||
Publisher: | Department of Economics, University of Warwick | ||||
Place of Publication: | Coventry, UK | ||||
Official Date: | October 2012 | ||||
Dates: |
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Volume: | Volume 2012 | ||||
Number: | Number 105 | ||||
Number of Pages: | 15 | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Date of first compliant deposit: | 1 August 2016 | ||||
Date of first compliant Open Access: | 1 August 2016 |
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