Another argument for Universal Healthcare

The following article on ScienceDaily:

Preventable deaths from lack of high-quality healthcare costs trilions

provides yet another, economic, argument in favor of universal healthcare system. The main argument of this study is that people dying from treatable conditions unnecessarily decreases a society’s labor force. And hence economic output is also diminished.

Since society at large will benefit from a good healthcare system, it would make sense if the government would be the principal funder of medical services. Or to quote one of the researchers cited:

“Good health care should not be a luxury available only to people in high-income countries.”

According to this study the total cost of a decent healthcare system is only fraction of the loss in productivity. So simple capitalist logic dictates that we, as a society, should invest in an adequate and accessible system of medical care. All money poured into universal healthcare, will eventually be paid by increased economic growth.

3 thoughts on “Another argument for Universal Healthcare”

  1. Absolutely. New analysis in the U.S. is highlighting this issue amidst the pandemic. As unemployment rises to dangerous levels, tens of millions of laid-off workers face losing their employer-based health insurance. If there was a government-run universal health care system in place, that wouldn’t happen.

    1. This one of the reasons why I believe that the US economy won’t be able to fully recover from this crisis (unlike China, most of Europe or even Brazil). As people have lost their healthcare plans, more of them will eventually die from non-Covid causes – which is very likely as many US residents have already health issues (obesity and unhealthy diets prime factors). This will further undermine US overall productivity.

      If I were in charge of a mutual fund or other investment business, I would not make any new investments in the US and I would even consider to disinvest completely. As US investments are simply too risky right now and I have little hope regarding the coming elections in November.

      1. Yes, the U.S. economy is in dire straits as are many other economies; and, making investments right now is extremely risky.

        Regarding the U.S. 2020 election, we all have hopes and fears about what might happen. Unfortunately, none of us knows what will happen. I prefer well-reasoned and well-researched analysis over intuitive prognostication. I closely study U.S. politics every day, and all the measurable indicators point towards Trump losing in November. In many respects, the political dynamics are similar to the 1932 election when Herbert Hoover was defeated by FDR. However, there remain wildcard variables such as foreign interference, election fraud, and of course decreased voter turnout from the pandemic. Time will tell.

Comments are closed.