Estimating the Economic Cost of Childhood Poverty in the United States

2018 ◽  
Vol 42 (2) ◽  
pp. 73-83 ◽  
Author(s):  
Michael McLaughlin ◽  
Mark R Rank
2021 ◽  
pp. 82-89
Author(s):  
Mark Robert Rank ◽  
Lawrence M. Eppard ◽  
Heather E. Bullock

Chapter 11 analyzes the overall economic cost of poverty to the United States. Childhood poverty is estimated to cost the United States approximately $1 trillion a year. This is the result of a loss of economic productivity, higher health expenses, and increased criminal justice costs. It is also estimated that for every dollar spent in reducing poverty, the nation would save up to $12 in reduced expenses. The argument of equality versus efficiency is discussed, and shown to be lacking in strength. High rates of poverty are viewed as leading to greater inequality as well as reducing economic efficiency.


Author(s):  
Andrew Schmitz ◽  
Charles B. Moss ◽  
Troy G. Schmitz

AbstractThe COVID-19 crisis created large economic losses for corn, ethanol, gasoline, and oil producers and refineries both in the United States and worldwide. We extend the theory used by Schmitz, A., C. B. Moss, and T. G. Schmitz. 2007. “Ethanol: No Free Lunch.” Journal of Agricultural & Food Industrial Organization 5 (2): 1–28 as a basis for empirical estimation of the effect of COVID-19. We estimate, within a welfare economic cost-benefit framework that, at a minimum, the producer cost in the United States for these four sectors totals $176.8 billion for 2020. For U.S. oil producers alone, the cost was $151 billion. When world oil is added, the costs are much higher, at $1055.8 billion. The total oil producer cost is $1.03 trillion, which is roughly 40 times the effect on U.S. corn, ethanol, and gasoline producers, and refineries. If the assumed unemployment effects from COVID-19 are taken into account, the total effect, including both producers and unemployed workers, is $212.2 billion, bringing the world total to $1266.9 billion.


2021 ◽  
pp. 152700252110246
Author(s):  
Luke Petach ◽  
Dustin Rumbaugh

American football season reduces the Monday labor hours of employed men by two-thirds of an hour. A similar effect is found for Friday labor hours. We term these effects the “hangover effect” and “happy hour effect.” Consistent with a wide class of labor market models, the labor supply effect varies over the business cycle, increasing in expansions. The hangover effect implies an intertemporal elasticity of labor supply on the order of 0.014. Evaluated at the median hourly wage, our estimates imply an annual economic cost of foregone earnings associated with football season in the neighborhood of $5.06 billion.


Author(s):  
Kevin Zhou

Canada is known for its close relations with the United States in the domains of economic affairs, defence and international diplomacy. This arrangement, however, was a product of the great changes brought about by the Second World War. The combination of British decline, Ottawa’s desire to achieve full independence from London, and the looming Soviet threat during the Cold War created a political environment in which Canada had to become closely integrated with the United States both militarily and economically. Canada did so to ensure its survival in the international system. With the exception of a few controversial issues like US involvement in Vietnam (1955) and Iraq (2003) as well as Ballistic Missile Defence (BMD), Ottawa has been Washington’s closest ally since 1945. On numerous occasions like the Korean War, the Cuban Missile Crisis, and as recently as the War in Afghanistan and the War Against IS (Islamic State), Canada had provided staunch military and diplomatic support to Washington in its engagements around the globe. In an era of relative peace, stability, and certainty, particularly during the Post-Cold War period and the height of American power from 1991 to 2008, this geopolitical arrangement of continental integration had greatly benefited Canada. This era of benefits, however, is arguably drawing to a close. The Great Recession of 2007-09, the situations in Iraq and Afghanistan, and the insistence on pursuing a foreign policy of global primacy despite its significant economic cost, are sending the US down an uncertain path. Due to its close relations and geographical proximity with the US, Canada now faces a hostile international environment that is filled with uncertainty as a result of superpower decline, great power rivalries, environmental degradation, and failed US interventions.


1998 ◽  
Vol 6 (2) ◽  
pp. 97-106 ◽  
Author(s):  
Anne M. Wolf ◽  
Graham A. Colditz

Surgery ◽  
2014 ◽  
Vol 155 (5) ◽  
pp. 894-898 ◽  
Author(s):  
Jarone Lee ◽  
Sadeq A. Quraishi ◽  
Saurabha Bhatnagar ◽  
Ross D. Zafonte ◽  
Peter T. Masiakos

2016 ◽  
Author(s):  
Catalina Amuedo-Dorantes ◽  
Esther Arenas-Arroyo ◽  
Almudena Sevilla

2005 ◽  
Vol 68 (12) ◽  
pp. 2623-2630 ◽  
Author(s):  
PAUL D. FRENZEN ◽  
ALISON DRAKE ◽  
FREDERICK J. ANGULO ◽  

The Centers for Disease Control and Prevention (CDC) has estimated that Shiga toxin–producing Escherichia coli O157 (O157 STEC) infections cause 73,000 illnesses annually in the United States, resulting in more than 2,000 hospitalizations and 60 deaths. In this study, the economic cost of illness due to O157 STEC infections transmitted by food or other means was estimated based on the CDC estimate of annual cases and newly available data from the Foodborne Diseases Active Surveillance Network (FoodNet) of the CDC Emerging Infections Program. The annual cost of illness due to O157 STEC was $405 million (in 2003 dollars), including $370 million for premature deaths, $30 million for medical care, and $5 million in lost productivity. The average cost per case varied greatly by severity of illness, ranging from $26 for an individual who did not obtain medical care to $6.2 million for a patient who died from hemolytic uremic syndrome. The high cost of illness due to O157 STEC infections suggests that additional efforts to control this pathogen might be warranted.


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