How inequality harms health -- and the economy
Source: CBS News
inequality. For example, evidence suggests that when inequality is very large, it can lower economic growth. But there's quite a bit of uncertainty about how this occurs. What are the pathways that connect large disparities in income and wealth to economic growth?
Recent research (summarized here) from UCLA's Fielding School of Public Health provides evidence that income inequality is associated with inequality in health. In particular, lower income is associated with "high levels of stress, exhaustion, cardiovascular disease, lower life expectancy and obesity." These factors alone could lead to lower economic growth than we would have if the work force were healthier.
Also important when thinking about the impacts on long-run growth are the potential intergenerational impacts. As Dr. Linda Rosenstock, the UCLA paper's senior author, noted, these health effects aren't limited to the parents -- children are also affected.
Does this matter for economic growth and intergenerational mobility? Some research says it does. Evidence from the Food Stamp program shows that healthier children contribute more to the economy later in life. In particular, children who had access to food stamps "grew up to be healthier and more productive than those who didn't, which means that they made a bigger economic contribution."
Read more: http://www.cbsnews.com/news/inequality-is-bad-for-health-and-bad-for-the-economy/
These facts should be pretty self-evident to any thinking individual. Maybe a few of us here can link to this story so our Faux-Noise watching friends can learn something.
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