Cost of Illness

A narrow interpretation of the cost imposed by illness focuses merely on the financial consequences of poor health (often misleadingly - and, to economists, offensively - described as 'economic') such as lost earnings from work, expenditure on health services, drugs and so on. A wider interpretation seeks to identify the true social opportunity costs of being ill with perhaps shadow prices being attached to lost working time, carers' time spent nursing, health services received and so on.

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