McKinsey July 8, 2020
The COVID-19 pandemic is an unwelcome reminder of just how much health matters for individuals, society, and the global economy. For the past century or more, health improvements from vaccines, antibiotics, sanitation, and nutrition, among others, have saved millions of lives and been a powerful catalyst for economic growth. Better health promotes economic growth by expanding the labor force and by boosting productivity while also delivering immense social benefits. However, in recent years, a focus on rising healthcare costs, especially in mature economies, has dominated the policy debate, whereas health as an investment for economic return has largely been absent from the discussion.
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