The Staggering Cost of Aging
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Via EurekAlert, another look at the benefits that come from extending healthy life span; by curing cancer in this case. Think about the flip side of the coin; the ongoing economic devastation caused by aging, frailty and death: "Even a modest one percent reduction in mortality from cancer would be worth nearly $500 billion in social value ... Social value of improved health and longevity is the amount in dollars that additional life years or other health improvements are worth to people ... The value of improved longevity is based on what individuals gain from the enjoyment of consumption and time during an additional year of life, rather than how much they earn. During the 20th century, average life expectancy of Americans increased by 30 years, due in large part to medical advances against major diseases ... this increase in life expectancy is worth more than $1.2 million for each American alive today. From 1970 to 2000, gains in life expectancy added about $3.2 trillion per year to national wealth."

Link: http://www.eurekalert.org/pub_releases/2006-04/uoc-opr033106.php

Comments

Interesting concept, the cost of medicine measured in terms of the worth of the future contributions of the life! What is not considered here is the cost of longevity without health. Would like to see how the numbers balance.

Posted by: mocarter at June 13, 2011 5:55 AM
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