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1.
Annual review of economics ; 14:1-21, 2022.
Article in English | EuropePMC | ID: covidwho-1998535

ABSTRACT

Deaths of despair, morbidity and emotional distress continue to rise in the US, largely borne by those without a college degree, the majority of American adults, for many of whom the economy and society are no longer delivering. Concurrently, all-cause mortality in the US is diverging by education in a way not seen in other rich countries. We review the rising prevalence of pain, despair, and suicide among those without a BA. Pain and despair created a baseline demand for opioids, but the escalation of addiction came from pharma and its political enablers. We examine the “politics of despair,” how less-educated people have abandoned and been abandoned by the Democratic Party. While healthier states once voted Republican in presidential elections, now the less-healthy states do. We review deaths during COVID, finding mortality in 2020 replicated existing relative mortality differences between those with and without college degrees.

2.
The Review of income and wealth ; 68(1):1-15, 2021.
Article in English | EuropePMC | ID: covidwho-1870823

ABSTRACT

In March 2020, the International Comparison Project published its latest results, for the calendar year 2017. This round presents common-unit or purchasing-power-parity data for 176 countries on Gross Domestic Product and its components. We review a number of important issues, what is new, what is not new, and what the new data can and cannot do. Of great importance is the lack of news, that the results are broadly in line with earlier results from 2011. We consider the relationship between national accounts measures and health, particularly in light of the COVID-19 epidemic which may reduce global inequality, even as it increases inequality within countries. We emphasize things that GDP cannot do, some familiar—like its silence on distribution—and some less familiar—including its increasing detachment from national material wellbeing in a globalized world where international transfers of capital and property rights can have enormous effects on GDP, such as the 26 percent increase in Ireland’s GDP in 2015.

3.
National Bureau of Economic Research Working Paper Series ; No. 29328, 2021.
Article in English | NBER | ID: grc-748490

ABSTRACT

It is now established that mortality and excess mortality from COVID-19 differed across racial and ethnic groups in 2020. Less is known about educational differences in mortality during the pandemic. We examine mortality rates by BA status within sex, age, and race/ethnic groups comparing 2020 with 2019. Mortality rates have increasingly differed by BA status in the US in recent years and there are good reasons to expect the gap to have widened further during the pandemic. Using publicly available provisional data from the National Center for Health Statistics we find that mortality rates increased in 2020 over 2019 for those with and without a BA, irrespective of age, sex, or race/ethnicity. Although mortality rates increased by more for those without a BA, the ratio of mortality rates for those with and without a BA changed surprisingly little from 2019 to 2020. Among 60 groups (sex by race/ethnicity by age) that are available in the data, the ratio of mortality rates of those without a BA to those with a BA fell for more than half of the groups. Our results suggest that differences in the risk of infection were less important in structuring mortality by education than differences in the risk of death conditional on infection.

4.
National Bureau of Economic Research Working Paper Series ; No. 29241, 2021.
Article in English | NBER | ID: grc-748363

ABSTRACT

Deaths of despair, morbidity and emotional distress continue to rise in the US. The increases are largely borne by those without a four-year college degree—the majority of American adults. For many less-educated Americans, the economy and society are no longer providing the basis for a good life. Concurrently, all-cause mortality in the US is diverging by education—falling for the college-educated and rising for those without a degree—something not seen in other rich countries. We review the rising prevalence of pain, despair, and suicide among Americans without a BA. Pain and despair created a baseline demand for opioids, but the escalation of addiction came from pharma and its political enablers. We examine “the politics of despair,” how less-educated people have abandoned and been abandoned by the Democratic Party. While healthier states once voted Republican in presidential elections, now the least-healthy states do. We review the evidence on whether or not deaths of despair have risen during the COVID pandemic. More broadly, excess mortality from COVID has not increased the ratio of all-cause mortality rates for those with and without a four-year degree, but has instead replicated the pre-existing mortality ratio.

5.
National Bureau of Economic Research Working Paper Series ; No. 28177, 2020.
Article in English | NBER | ID: grc-748350

ABSTRACT

In March 2020, the International Comparison Project published its latest results, for the calendar year 2017. This round presents common-unit or purchasing-power-parity data for 137 countries on Gross Domestic Product and its components. We review a number of important issues, what is new, what is not new, and what the new data can and cannot do. Of great importance is the lack of news, that the results are broadly in line with earlier results from 2011. We consider the relationship between national accounts measures and health, particularly in light of the COVID-19 epidemic which may reduce global inequality, even as it increases inequality within countries. We emphasize things that GDP cannot do, some familiar—like its silence on distribution—and some less familiar—including its increasing detachment from national material wellbeing in a globalized world where international transfers of capital and property rights can have enormous effects on GDP, such as the 26 percent increase in Ireland’s GDP in 2015.

6.
National Bureau of Economic Research Working Paper Series ; No. 28392, 2021.
Article in English | NBER | ID: grc-748224

ABSTRACT

There is a widespread belief that the COVID-19 pandemic has increased global income inequality, reducing per capita incomes by more in poor countries than in rich. This supposition is reasonable but false. Rich countries have experienced more deaths per head than have poor countries;their better health systems, higher incomes, more capable governments and better preparedness notwithstanding. The US did worse than some rich countries, but better than several others. Countries with more deaths saw larger declines in income. There was thus not only no trade-off between lives and income;fewer deaths meant more income. As a result, per capita incomes fell by more in higher-income countries. Country by country, international income inequality decreased. When countries are weighted by population, international income inequality increased, more in line with the original intuition. This was largely because Indian incomes fell, and because the disequalizing effect of declining Indian incomes was not offset by rising incomes in China, which is no longer a globally poor country. That these findings are a result of the pandemic is supported by comparing global inequality using IMF forecasts in October 2019 and October 2020.

7.
LSE Public Policy Rev ; 1(4)2021.
Article in English | MEDLINE | ID: covidwho-1326152

ABSTRACT

There is a widespread belief that the COVID-19 pandemic has increased global income inequality, reducing per capita incomes by more in poor countries than in rich. This supposition is reasonable but false. Rich countries have experienced more deaths per head than have poor countries, their better health systems, higher incomes, more capable governments and better preparedness notwithstanding. The US did worse than some rich countries but better than several others. Countries with more deaths saw larger declines in GDP per capita. At least after the fact, fewer deaths meant more income. As a result, per capita incomes fell by more in higher-income countries. Country by country, international income inequality decreased. When countries are weighted by population, international income inequality increased, in line with the original intuition. This was largely because Indian GDP fell and because the disequalizing effect of declining Indian incomes was not offset by rising incomes in China, which is no longer a globally poor country. That these findings are a result of the pandemic is supported by comparing global inequality using IMF forecasts in October 2019 and October 2020. These results concern GDP per capita and say little or nothing about the global distribution of living standards, let alone about the global distribution of suffering during the first year of the pandemic.

8.
Rev Income Wealth ; 68(1): 1-15, 2022 Mar.
Article in English | MEDLINE | ID: covidwho-1262373

ABSTRACT

In March 2020, the International Comparison Project published its latest results, for the calendar year 2017. This round presents common-unit or purchasing-power-parity data for 176 countries on Gross Domestic Product and its components. We review a number of important issues, what is new, what is not new, and what the new data can and cannot do. Of great importance is the lack of news, that the results are broadly in line with earlier results from 2011. We consider the relationship between national accounts measures and health, particularly in light of the COVID-19 epidemic which may reduce global inequality, even as it increases inequality within countries. We emphasize things that GDP cannot do, some familiar-like its silence on distribution-and some less familiar-including its increasing detachment from national material wellbeing in a globalized world where international transfers of capital and property rights can have enormous effects on GDP, such as the 26 percent increase in Ireland's GDP in 2015.

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