Silver Book Fact

Increased longevity added about $3.2 trillion per year to national wealth between 1970 and 2000, an uncounted value equal to approximately 1/2 of the average annual GDP during that period.

Murphy K, Topel R. The Value of Health and Longevity. National Bureau of Economic Research Working Paper. May-2005; 11405. http://www.nber.org/papers/W11405

Reference

Title
The Value of Health and Longevity
Publication
National Bureau of Economic Research Working Paper
Publication Date
May-2005
Authors
Murphy K, Topel R
URL
Read Full Resource

Categories

  • Innovative Medical Research
  • Economic Value

Related Facts

  • Each new drug approved between 1970 and 1991 saves an average of 11,200 life-years in 1991.  
  • In 2000, Americans saved 206 million days of hospital care because of health care investments.  
  • Delaying the onset of Alzheimer’s disease, innovations that delay disability among the elderly through 2009, and a 25% increase in efficiency and effectiveness of cancer treatment would save $138 billion…  
  • Avoidable Productivity Losses, 2023  
  • Decline in Disability Rates for People Aged over 65 Years, 1982-2000