It's time economists focused on the social gradient

London

IT is depressing that almost all economists ignore health and well-being when they analyse economies. Instead of just growth, inflation, and monetary and fiscal policy, they should monitor the social gradient. This is basically the difference in social well-being, income and health between the poor, middle-income and rich. If that social gradient is flattened, the overall improvement in health, well-being, empowerment and motivation from the bottom to the top would raise productivity and consumption, leading to business and economic growth.

Michael Marmot, professor of epidemiology and public health at University College London and president of the World Medical Association, spells out the vital importance of narrowing health and social inequalities. Of course there are exceptions, but his latest book The Health Gap shows in no uncertain terms that the wealthiest people live several years longer than white and blue-collar workers.