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Are health problems leading to Economic loss in various countries?
Yes! Healthcare does result in economic loss. If the health issues are snubbed in their early stages, curbing them is next to impossible. We have seen the onslaught of COVID- 19. Since timely measures weren’t taken throughout the globe, everyone had to undergo a lockdown, thanks to late action. Lockdown is nothing but economic loss from the monetary aspect. Poverty results in ignorance of a disease which results in its meteoric spread. At this level, a locality may visit a doctor resulting in personal economic loss. The disease, if neglected at this stage, may spread in numerous states increasing the need of many hospitals for the government, more equipment and doctors. Furthermore, many people will not visit their workplace leading to more economic loss. Inter-state and international travel will transmit the diseases to many more countries and states. So, more hospitals, doctors and healthcare facilities would have to imported. During the later stage, Tourism, Entertainment and Transportation industry will suffer a huge setback thanks to unprecedented disease spread. The government will have to set up free aid for the poor, the core of the pandemic. At the national and global level, the result is more expenditure than income leading to national and international recession. The need is to reform and strengthen the medical sector and its economic allocation. To convert it from a ‘late bloomer’ to a quick solver of diseases. There is also a requisition to educate the poorer public. So that, we can heal the world- make it a better place, for you and for me and the entire human race.
Published by: Shah Jay Siddharth
Author: Shah Jay Siddharth
Paper ID: V7I2-1256
Paper Status: published
Published: April 6, 2021
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