Virtually since the
dawn of civilisation, health has been called an end in itself - a
pursuit that needs no further justification. Aristotle and Plato both
called health a basic condition without which no other kind of
prosperity is possible. Aristotle in one of his treatises even cites a
much older Delian saying: "most noble is that which is most just, but
best is health".
Health may be its own reward, but much evidence has accumulated over the
years to suggest that it's also a means to other ends, including
wealth. Academics have been piecing together the links between health
and wealth since at least the 1960s, and unsurprisingly, the research so
far has revealed a strong correlation between the two. Wealthy people
tend to be healthy, perhaps in part because they can spend more on
drugs, medical treatments and preventive care. Healthy people also may
stand to become wealthier, as they can work longer and harder than the
sick.
"People of lower socioeconomic status consistently appear to have much worse health outcomes," as James P Smith, a senior economist at the RAND Corporation in the US, bluntly described the link in a 2005 paper. "No matter which measures of socioeconomic status are used or how health is measured, the evidence that this association is large and pervasive across time and space is abundant." Indeed, statistics from the US, where the most comprehensive data on health and wealth are available, show that people in the top quartile of incomes report being significantly healthier throughout their working lives than those in the second, third and fourth quartiles. Once people start to get past age 80, however, wealth appears to be a weaker determinant of health. The percentage of people reporting very good or excellent health converges at roughly 35 per cent.
The moral, according to the research - as long as you are working and making money, staying healthy preserves your ability to do so. And by extending your moneymaking lifespan, you are in effect ensuring you have a better chance at getting wealthy. You also improve your odds of avoiding disability, which could seriously hamper your ability to grow wealthier over time. And by not spending lots of money on maintaining and treating an unhealthy lifestyle, you free up capital you could save, invest or do anything you like with.
The numbers back up that notion. Drawing on a large survey of US households, researchers have estimated that the full cost of a major health shock - something unexpected but possibly related to smoking, obesity or poor general health - soars to an average of Dh135,000 after eight years, taking into account both lost income and treatment costs not covered by insurance. Moreover, people who had a big health scare actually saw their average household incomes reduced below where they were before. For many families in the survey, it took years of persistence to recover financially.
What's especially daunting about the link between ill health and lack of wealth is that it can devolve into a vicious cycle of lower income and declining health. Research shows that there is not only a casual link between bad health and less wealth, but also between lower levels of wealth and declining health. As Peter Muennig, a professor at Columbia University, put it in a paper published last year, "low income can damage health, and sickness can lead to the loss of income".
"People of lower socioeconomic status consistently appear to have much worse health outcomes," as James P Smith, a senior economist at the RAND Corporation in the US, bluntly described the link in a 2005 paper. "No matter which measures of socioeconomic status are used or how health is measured, the evidence that this association is large and pervasive across time and space is abundant." Indeed, statistics from the US, where the most comprehensive data on health and wealth are available, show that people in the top quartile of incomes report being significantly healthier throughout their working lives than those in the second, third and fourth quartiles. Once people start to get past age 80, however, wealth appears to be a weaker determinant of health. The percentage of people reporting very good or excellent health converges at roughly 35 per cent.
The moral, according to the research - as long as you are working and making money, staying healthy preserves your ability to do so. And by extending your moneymaking lifespan, you are in effect ensuring you have a better chance at getting wealthy. You also improve your odds of avoiding disability, which could seriously hamper your ability to grow wealthier over time. And by not spending lots of money on maintaining and treating an unhealthy lifestyle, you free up capital you could save, invest or do anything you like with.
The numbers back up that notion. Drawing on a large survey of US households, researchers have estimated that the full cost of a major health shock - something unexpected but possibly related to smoking, obesity or poor general health - soars to an average of Dh135,000 after eight years, taking into account both lost income and treatment costs not covered by insurance. Moreover, people who had a big health scare actually saw their average household incomes reduced below where they were before. For many families in the survey, it took years of persistence to recover financially.
What's especially daunting about the link between ill health and lack of wealth is that it can devolve into a vicious cycle of lower income and declining health. Research shows that there is not only a casual link between bad health and less wealth, but also between lower levels of wealth and declining health. As Peter Muennig, a professor at Columbia University, put it in a paper published last year, "low income can damage health, and sickness can lead to the loss of income".