05/01/2024
*⁉️⁉️Should economists care about mental health?⁉️⁉️*
Unlike most physical conditions, mental disorders can directly affect a person’s cognitive function, preferences, and beliefs in ways that can potentially perpetuate poverty (Ridley et al., 2020).
Studies have also shown that mental health conditions are associated with reduced productivity, higher rates of unemployment, and other economic impacts.
In a recent study, the World Economic Forum indicated that, based on a broadly defined set of mental health conditions, mental health disorders could cost the world economy approximately US$ 6 trillion by 2030 (2022). (Note: These estimates do not attach monetized value to anyone outside of the paid workforce, including primary [mostly female] caregivers).
And, LMICs were predicted to bear 35% of the cost of these conditions, which adds only more pressure to LMICs’ already fragile national budgets.
*Given these negative economic consequences of mental health, economists, researchers, and policymakers would do well to make this issue a priority.*
Together and in unity we can definitely help neglected persons with mental disabilities in the streets and communities in AFRICA become economically productive and have dignified lives.
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