The forgotten costs of COVID-19

https://coronavirus.jhu.edu/map.html

Published in El Pais, 13 June 2020.

The numbers that we see daily in Bolivia on COVID-19 are the numbers of cases and deaths. It is a tragedy and it is easy to forget that behind each number there is the suffering of the relatives. However, there is another side to these numbers that is more concerning. When we study the cost to the economy, most talk about companies that cannot open or sell and people who lose their jobs. But who talks about the costs related to the number of cases and deaths?

A person who becomes ill cannot work, has no income, needs medication and perhaps hospitalization or intensive care. These are all costs to the economy. One may say that the expenses must be paid by the family, health insurance, the State or your employer, but it is the same cost no matter who pays.

Also, the cost of a dead person should not be underestimated. Most likely, this person has been ill for several days so they have already incurred costs, first from not working and then from hospitalization. It is easy to say that health expenses are suspended after burial. But it is not true. A person who works and brings money home and suddenly dies is a big problem for his family. And the cost is not only for the person who works. If a mother dies, who will take care of the children? And in the event that a young person dies who still had many years to work, we lose all this income potential for the future.

Furthermore, someone who recovers and has a disability or chronic illness after COVID-19 means that not only will they have a lower quality of life, but they will also not be as economically productive as before their illness. This also involves costs.

COVID-19 not only causes sadness for the dead to their families, the disease itself also causes a tremendous impact on the health sector and the economy if we do not control it soon. It is another reason to follow the recommendations to reduce infections and unnecessary contacts. Take care!

About Arnold Hagens 296 Articles
Arnold Hagens is Economist with strong interest in technology, health and coaching

Be the first to comment

Leave a Reply

Your email address will not be published.


*