Student Blog: Law, Markets, & The Role Of The State

BAD ECONOMY: IT DOES A BODY GOOD

By Christine Song on September 29, 2009 - Comments(0)

Experts compare our current economic downturn to the 1929 stock market crash and the subsequent Great Depression. To name a few, the fall of the conglomerate lending institutions, a rise in unemployment rate, and countless bankruptcy filings and defaults on mortgages followed by loss of homes are some of the numerous similarities we observed. If the present state of the American economy indeed does bear an eerie resemblance to the Great Depression of 1930’s - and if we could remotely make certain of what is to come based on such resemblance - there is a silver lining: a new study says there is a link between bad economy and good health.

A new study shows that the health of Americans in the 1930’s was far better than that of economically booming time periods immediately preceding and succeeding that decade. For example, there were a significant increase in life expectancy, especially of racial minorities by nearly 10 years, and a far less number of causes of death. Scientists opine that this phenomenon was most likely due to the fact that people sleep less, and drink and smoke more when the economy is booming. Also, people tend to engage in more strenuous labor, endure more stress and are more likely subject to work related injuries when the economy is growing.

Obviously, this study was not done to make a serious point on health issues by implying that losing jobs and homes mean better health. But rather it was done to lighten the grim mood of our current society as it is downtrodden and disheartened by recession and the uncertainties of future. While it is true that most of us suffer from the unpleasant effects of recession in varying degrees, maybe we could console ourselves with the fact that if history means anything, the economy will recover as it always did. And maybe laugh at the prospect of losing our jobs especially if it means our lives can be extended by a few years.

Reference:

http://latimesblogs.latimes.com/booster_shots/2009/09/great-depression-better-health.html

Tags: economic downturn stock market crash
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