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Economic Costs Of HIV AIDS
The words HIV and AIDS bring to mind the instant fear of death. A large proportion of the human population is affected by HIV/AIDS, and its linked disorders. Any disease that has a fatal implication leads to reduction of human capital in terms of economy. This loss of human capital creates a negative implication on the economic growth of the country. Since, AIDS is mainly contracted by the younger generation; the repercussions on the economy are rather intense. |
The burden on economic cost due to the high fatality rate owing to AIDS is a two fold process. It implies reduction in the number of professional hands, and increase in the medical care cost. Many predict that in the near future, these aspects will drastically affect the economic growth of countries with considerable AIDS populace. The sick are incapable of working. As a consequence there is dearth of professionally skilled and qualified labor. Those, who are available, lack the professional know-how. These factors result in low productivity. Also, many take leave to attend to the sick adding to the economic burden in terms of lost productive man hours. Another relevant aspect is the reduction in accumulation of tax. The high rate of mortality reduces the taxable population, and thereby affecting the revenue of the government.
Families with patients of AIDS end up spending a large chunk of their financial resources on the treatment. Thus, leaving little money for the education of children. Also, with the number of young deaths on the rise, many children are orphaned at a young age. This liability also shifts to the government. Moreover, these children, who are deprived of love and proper education, under normal circumstances could have grown up to be national assets.
In countries like South Africa where the prevalence of the disease is extremely high, the GDP growth annually has declined approximately 0.3 to 1.5 percent. It is predicted that countries in the same league need to take measures to fight this epidemic, else very soon the nation’s economy would collapse. If not the complete cure, one needs to at least aim at keeping the HIV affected patients alive, especially parents. This will enable the parents to delegate their responsibilities towards rearing of their children, which subsequently will help to rear the country’s economy.
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Economic Costs Of Hiv Aids
