Business

RUNNING HEAD: HEALTH STATUS 4

Colorado Technical University

Student’s name: Yelena Mazur

Professor’s name: Kimberly Christensen

Course: Global Health Systems (HSS420)

Date : 4/03/2019

Health status is very important in determining a countries economic status. Countries that are ranked with the highest health status are more developed economically as compared to those that have low health status. It is evident that healthy people are able to participate more positively towards an economy a country and therefore spark high economic growth. On the other hand, people who are not healthy are not able to actively spark economic growth. United nations strategy of addressing poverty around the world is comprised of improving the health status of various groups of people. This affirms that health is very important in economic prosperity. Economic status of a country can be measured using various tools like GDP, This can be attributed to several factors.

First, the health status of an individual can be used to determine life expectancy. It has been suggested that countries with high life expectancy experience growth in their economic status. High life expectancy results in increased economic growth in various ways. People who live longer have an increased opportunity to continue investing in the economy through the starting of business. This in results increases revenues collected by the government and also creates employment opportunity for the people. Increased investment translates to people having income and positively contributing to economic growth through various activities. Again people who have long life expectancy tend to be productive for more year. It’s known that productivity stimulates economic growth in countries in several ways (Finlay, 2017).

Also, health status affects the educational levels in a country. Its widely acknowledged that education is very crucial economic development. This means that if education is affected by health status, economic status is also affected. Health status effects may affect the cognitive abilities of student and hinder them from learning. This affects the quality of services which are rendered by such individuals. Lack of quality skills translates into low wages which in turn affect economic status. On the other hand, people who are healthy have high chances of acquiring a good education and learning more skills. This improves productivity and thereby translates to higher wages. It has been seen that developed countries have highly skilled people who earn higher wages. This is a result of good health status which facilitates them to have a quality education.

Higher wages for the population directly affects economic growth. People with higher wages have the ability to invest the money and create more employment opportunities which in turn result in economic growth. Health has been attributed to job output. People who are healthy tend to be more productive than unhealthy people. The productivity of people is defined using physical and mental abilities. Workers who are healthy are less likely to miss out on work due to health issues. Again, healthy workers have mental abilities that ensure they make good decisions (Peters & Et al, 2014).

Also, Health status affects the ability of governments to set and maintain health systems. In countries where there is bad health status, governments are unable to set up functional health systems. This is attributed to reduced productivity and hence no resources are available to set up a fully functional health care system. This means that the cost of health goes up and people are not able to save enough money for spending on other purposes like investing in business and education. This makes it important for countries to ensure good health in their populations for high economic status (Bloom, Canning, & Sevilla, 2017).

Table 1: Comparison of health status in regard to economic status.

Economic status Access (%) Quality (%) Cost (%)
Low Income 12 21 73
Middle income 70 42 52
High income 95 87 29

References Bloom, D., Canning, D., & Sevilla, J. (2017). The e§ect of health on economic growth: A production function approach. World Development, 1-13. Finlay, J. (2017). The Role of Health in Economic Development. world development, 1-18. Peters, D. H., & Et al. (2014). Poverty and Access to Health Care in Developing Countries. New York Academy of sciences, 412-420.

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