scholarly journals The net present value of human lives lost due to coronavirus disease (COVID-19) in the Islamic Republic of Iran

2020 ◽  
Author(s):  
Joses M. Kirigia ◽  
Rose Nabi Deborah Karimi Muthuri ◽  
Newton Gitonga Muthuri
Keyword(s):  
Life Expectancy ◽  
Economic Model ◽  
Net Present Value ◽  
Human Life ◽  
Discount Rates ◽  
Islamic Republic ◽  
Present Value ◽  
The World ◽  
Islamic Republic Of Iran

Abstract Objective As of 11 April 2020, there were 68,192 confirmed cases, including 4,232 deaths. This study aimed to estimate the net present value of human lives lost due to COVID-19 in Iran as of 11 April 2020.Results The 4,232 human lives lost had a total net present value of Int$ 436,275,007. The average net present value per human life was Int$103,090. Re-estimation of the economic model with 5% and 10% discount rates resulted in a reduction in the expected total net present value by Int$ 64,881,144 (14.9%) and Int$ 168,066,782 (38.5%), respectively. Additional re-calculation of the economic model using the highest life expectancy in the world (i.e., that of the Japanese Females) increased the total net present value of human lives lost by 114%.

scholarly journals The discounted money value of human lives lost due to COVID-19 in Spain

2020 ◽  
Vol 34 (5) ◽  
pp. 455-460
Author(s):  
Joses Muthuri Kirigia ◽  
Rose Nabi Deborah Karimi Muthuri
Keyword(s):  
Life Expectancy ◽  
Discount Rate ◽  
Economic Model ◽  
Net Present Value ◽  
Negative Impact ◽  
Human Life ◽  
National Health System ◽  
Agriculture Education ◽  
Content Type ◽  
Value Of Health

PurposeTo estimate the discounted money value of human lives lost (DMVHL) due to COVID-19 in Spain.Design/methodology/approachThe study employs the human capital approach to estimate the DMVHL (assuming Spain's life expectancy of 83 years and a 3% discount rate) of the 20,453 human lives lost in Spain from COVID-19 as of 19 April 2020. Sensitivity analysis was conducted alternately assuming (a) 5% and 10% discount rate; and (b) global life expectancy of 72 years, and the world's highest life expectancy of 87.1 years.FindingsThe 20,453 human lives lost due to COVID-19 had a total DMVHL of Int$ 9,629,234,112, and an average of Int$ 470,798 per human life lost. Alternate re-estimation of the economic model with a 5% and 10% discount rates led to 19.8% and 47.4% reductions in the DMVHL, respectively. Re-calculation of the economic model using the global life expectancy of 72 years, while holding the discount rate constant at 3%, diminished the DMVHL by 41%. While the re-run of the same model using the world's highest life expectancy of 87.1 years instead, it increased the DMVHL by 18%.Research limitations/implicationsThe study omits the value of health systems inputs used in preventing, diagnosing and treating COVID-19 cases; and the negative impact of COVID-19 on the agriculture, education, finance, manufacturing, travel, tourism, and trade sectors.Social implicationsThere is a need to use this kind of evidence to advocate for increased investments into the strengthening of the national health system, IHR capacities, and coverage of safe water and sanitation facilities.Originality/valueIn Spain, no other study had attempted to estimate the net present value of human lives lost from COVID-19.

scholarly journals The fiscal value of human lives lost from Novel Coronavirus (2019-nCoV) in China

2020 ◽  
Author(s):  
Joses M. Kirigia ◽  
Rosenabi Deborah Karimi Muthuri
Keyword(s):  
Human Capital ◽  
Life Expectancy ◽  
Economic Model ◽  
Discount Rates ◽  
Female Life Expectancy ◽  
Specific Objective ◽  
The World ◽  
Japanese Female ◽  
National Life ◽  
Novel Coronavirus

Abstract Objective: According to the WHO novel coronavirus (2019-nCoV) situation report 16, as at 5 th February 2020, there was a total of 24363 confirmed 2019-nCoV cases in China. That consisted of the world 491. The specific objective of this study was to estimate, using human capital approach, the fiscal value of human lives lost due to 2019-nCoV in China as at 5 th February 2020. Results: The deaths from 2019-nCoV had a discounted (at 3%) total fiscal value of Int$174,895,675. Out of which, 63.2% was borne by people aged 25-49 years, 27.8% by people aged 50-64 years, and 9.0% by people aged 65 years and above. Average fiscal value per death was Int$ 356,203. Re-estimation of the economic model alternately with 5% and 10 discount rates led to a reduction in the expected total fiscal value by 21.3% and 50.4%, respectively. Furthermore, re-estimation of the economic model using the Japanese female life expectancy of 87.1 years (highest in the world), instead of the national life expectancy of 76.4 years, increased the total fiscal value by Int$ 43,415,455 (24.8%).

scholarly journals The discounted value of human lives lost due to COVID-19 in France

F1000Research ◽  
2020 ◽  
Vol 9 ◽  
pp. 1247 ◽  
Author(s):  
Joses Muthuri Kirigia ◽  
Rose Nabi Deborah Karimi Muthuri ◽  
Lenity Honesty Kainyu Nkanata ◽  
Newton Gitonga Muthuri
Keyword(s):  
Life Expectancy ◽  
Human Life ◽  
Economic Value ◽  
International Health ◽  
Discount Rates ◽  
Average Life ◽  
Average Life Expectancy ◽  
World Average ◽  
Life Expectancy At Birth ◽  
The World

Background: This study estimates the total discounted value of human lives lost (TDVHL) due to COVID-19 in France as of 14 September 2020. Methods: The human capital approach (HCA) model was used to estimate the TDVHL of the 30,916 human lives lost due to COVID-19 in France; i.e., assuming a discount rate of 3% and the national average life expectancy at birth of 83.13 years. To test the robustness of the estimated TDVHL, the model was rerun (a) using 5% and 10% discount rates, while holding the French average life expectancy constant; and (b) consecutively substituting national life expectancy with the world average life expectancy of 73.2 years and the world highest life expectancy of 88.17 years.  Results: The human lives lost had a TDVHL of Int$10,492,290,194, and an average value of Int$339,381 per human life lost. Rerun of the HCA model with 5% and 10% discount rates decreased TDVHL by Int$1,304,764,602 (12.4%) and Int$3,506,938,312 (33%), respectively. Re-calculation of the model with the world average life expectancy decreased the TDVHL by Int$7,750,187,267 (73.87%). Contrastingly, re-estimation of the model with the world’s highest life expectancy augmented TDVHL by Int$3,744,263,463 (35.7%). Conclusions: The average discounted economic value per human life lost due to COVID-19 of Int$339,381 is 8-fold the France gross domestic product per person. Such evidence constitutes an additional argument for health policy makers when making a case for increased investment to optimise France’s International Health Regulation capacities and coverage of essential health services, and safely managed water and sanitation services.

scholarly journals The Dollar Value of Human Life Losses Associated With COVID-19 in Canada

2021 ◽  
Author(s):  
Joses Muthuri Kirigia ◽  
Rose Nabi Deborah Karimi Muthuri
Keyword(s):  
Life Expectancy ◽  
Economic Model ◽  
Human Life ◽  
Premature Mortality ◽  
Discount Rates ◽  
Average Life ◽  
Economic Sectors ◽  
Average Life Expectancy ◽  
International Dollar ◽  
Total Dollar

Background: The coronavirus disease 2019 (COVID-19) pandemic continues to cause morbidity and premature mortality and ravage the socio-economic sectors in Canada.Objectives: The study aimed to appraise the Total Dollar Value of Human Life Losses (TDVHL) associated with COVID-19 in Canada. Methods: The net output approach was applied in the dollar valuation of the 8810 human life losses associated with COVID-19 in Canada as of July 16, 2020. The economic model wasrerun assuming 3%, 5%, and 10% discount rates with Canada’s life expectancy of 83 years, the world’s average life expectancy of 73 years, the world’s highest average life expectancy of88 years, and a 3% discount rate. Results: The human lives lost to COVID-19 had an estimated value of the international dollar (Int$) 2037021173 and an average of Int$ 231217 per human life lost. Quebec and Ontarioprovinces alone accounted for 94.99% of the TDVHL. Reanalysis of the economic model with discount rates of 5% and 10% resulted in declines in TDVHL of Int$ 192721390 (9%)and Int$ 530132423 (26%), respectively. Substitution of the nation with the word’s average life expectancy shrank the TDVHL by Int$ 1754972473 (86%) while applying the world’shighest life expectancy triggered a growth in the TDVHL of Int$ 498674987 (24%).

scholarly journals The Present Value of Human Lives Lost Due to COVID-19 in the United Kingdom

2020 ◽  
Author(s):  
Joses Muthuri Kirigia ◽  
Rose Nabi Deborah Karimi Muthuri
Keyword(s):  
United Kingdom ◽  
Life Expectancy ◽  
Human Life ◽  
Health Coverage ◽  
Discount Rates ◽  
Present Value ◽  
Average Life Expectancy ◽  
The United Kingdom ◽  
International Dollar ◽  
The Uk

Introduction: Approximately 43906 human lives were lost to COVID-19 by July 2, 2020, in the United Kingdom (UK). This study estimated the total present value of human lives lost due to COVID-19 in the UK as of July 2, 2020. Background: The ongoing global COVID-19 pandemic has disrupted external trade and negatively impacted on all the socioeconomic sectors in the UK. Objectives: The objective of this study was to estimate the total present value of human lives lost due to COVID-19 n the UK as of July 2, 2020. Methods: The human capital approach was employed to value human lives lost into money, assuming a 3% discount rate and an average life expectancy of 81.8 years in the UK. The economic model was re-estimated using (a) 5% and 10% discount rates, and (b) the average world life expectancy of 72 years, and (c) the world’s highest life expectancy of 88.1 years to test the robustness of the total present value of human lives lost.  Results: The human lives lost had a total present value of the international dollar (Int$) of 9883426226 and an average present value per human life of Int$ 225104. Approximately 76.2% of the total present value was sustained by those aged 30 and 79 years. Re-estimation of the model with discount rates of 5% and 10% instead of 3% reduced the total present value by Int$ 1158424570 (11.7%), and Int$ 3058724257 (31.0%), respectively. Conclusion: The average present value per human life was almost five-fold the UK’s GDP per person in 2020. The presented evidence could be used to advocate for increased investments into the British National Health Service and other health-related systems to optimize Universal Health Coverage, International Health Regulations capacities, and secondary education coverage to better mitigate economic and human suffering during future pandemics.

scholarly journals CULTURE FACTOR IN THE POLICY OF THE ISLAMIC REPUBLIC OF IRAN

2020 ◽  
Vol 14 (1) ◽  
pp. 55-71
Author(s):  
Marina Kameneva ◽  
Elena Paymakova
Keyword(s):  
Cultural Policy ◽  
Islamic Republic ◽  
The West ◽  
The Public ◽  
Leading Role ◽  
The World ◽  
Public Consciousness ◽  
Islamic Republic Of Iran ◽  
Cultural Expansion

The article notes that the theme of culture and cultural policy for modern Iran is not a marginal issue. Culture is seen by the country’s leadership as an important component of its state political and ideological doctrine. There is analyzed the role of the Islamic factor and cultural heritage in the cultural policy of the Islamic Republic of Iran over four decades of its existence. Particular attention is paid to the role of the theory of the dialogue of civilizations proposed by M. Khatami as well as to the changing attitude towards it in the public consciousness of Iranian society. It is emphasized that the theme of “Iran and the West” is becoming particularly acute in the country today, contributing to its politicization. An attempt is being made to show that Iranian culture is increasingly becoming an important factor in the foreign policy activities of the leadership of the Islamic Republic of Iran, contributing to the strengthening of the country’s position in the world arena as a whole and the country’s leading role in the region, the realization of the idea of exporting the Islamic Revolution and implementing Iranian cultural expansion outside the country.

scholarly journals The fiscal value of human lives lost from coronavirus disease (COVID-19) in China

2020 ◽  
Author(s):  
Joses M. Kirigia ◽  
Rosenabi Deborah Karimi Muthuri
Keyword(s):  
Life Expectancy ◽  
Economic Model ◽  
Discount Rates ◽  
Average Life ◽  
Average Life Expectancy ◽  
Specific Objective ◽  
National Life

Abstract Objective: According to the WHO coronavirus disease (COVID-19) situation report 35, as of 24 th February 2020, there was a total of 77,262 confirmed COVID-19 cases in China. That included 2,595 deaths. The specific objective of this study was to estimate the fiscal value of human lives lost due to COVID-19 in China as of 24 th February 2020. Results: The deaths from COVID-19 had a discounted (at 3%) total fiscal value of Int$ 924,346,795 in China. Out of which, 63.2% was borne by people aged 25-49 years, 27.8% by people aged 50-64 years, and 9.0% by people aged 65 years and above. The average fiscal value per death was Int$ 356,203. Re-estimation of the economic model alternately with 5% and 10 discount rates led to a reduction in the expected total fiscal value by 21.3% and 50.4%, respectively. Furthermore, the re-estimation of the economic model using the world’s highest average life expectancy of 87.1 years (which is that of Japanese females), instead of the national life expectancy of 76.4 years, increased the total fiscal value by Int$ 229,456,430 (24.8%).

scholarly journals Iran's Health Tourism Market during and after the Corona Pandemic and: Letter to the editor

2020 ◽  
Author(s):  
Hojjat Rahmani ◽  
Mohammad Arab ◽  
Jalal Saeedpour ◽  
Ghasem Rajabi Vasokolaei ◽  
Hiwa Mirzaii
Keyword(s):  
Health Care ◽  
Access To Health Care ◽  
Human Beings ◽  
Islamic Republic ◽  
Health Tourism ◽  
Seek Health Care ◽  
Letter To The Editor ◽  
Access To Health ◽  
The World ◽  
Islamic Republic Of Iran

The importance of maintaining and restoring health has always made human beings seek health care. Lack of proper access to health care, price and quality differences, as well as other factors among different countries have led to the formation of a long-standing industry called health tourism. Outbreak of coronavirus throughout the world has shocked and affected most countries. In this regard, the health tourism market of Islamic Republic of Iran was no an exception and was affected by this crisis. To meet this challenge, stakeholders of the health tourism market should determine their recession during this period, strengthen their weaknesses, and use the available opportunities. In this study, we intended to investigate effect of the coronavirus prevalence on the health tourism market of the Islamic Republic of Iran.

scholarly journals The Breakaway Boss: Semiperipheral Innovations and the Rise of Mahmoud Ahmadinezhad

2015 ◽  
Vol 21 (2) ◽  
pp. 417-447
Author(s):  
Kevan Harris
Keyword(s):  
Social Capital ◽  
Social World ◽  
Modernization Theory ◽  
Engineering Student ◽  
Islamic Republic ◽  
Historical Figure ◽  
The Social ◽  
The World ◽  
Charismatic Authority ◽  
Islamic Republic Of Iran

Within a year of becoming president of the Islamic Republic of Iran, Mahmoud Ahmadinezhad had already confused much of the world. Explanations of his political ascent in a semi-peripheral country rely largely on the concept of charismatic authority. This is a non-explanation, however, as the charismatic historical figure who seemingly holds creative command over the social world also has to be created. Instead, I argue that Ahmadinezhad’s trajectory from an Islamist engineering student to the presidency of a post-revolutionary state highlights three mechanisms of social-political innovation that are bounded by space and time: the situated overlap of social capital, the paradox of vertical clientage, and the breakaway of the machine boss. These mechanisms are usually misread as timeless signifiers of national backwardness or as charismatic dei ex machina. By showing these mechanisms at work through biography, we can challenge scholarly and popular explanations of social change that implicitly rehash modernization theory.

A New Approach to Capital Budgeting in Closely-Held Firms and Small Firms

1981 ◽  
Vol 5 (4) ◽  
pp. 30-35 ◽  
Author(s):  
Thomas H. McInish ◽  
Ronald J. Kudla
Keyword(s):  
Small Firms ◽  
Net Present Value ◽  
Cost Of Capital ◽  
Weighted Average ◽  
Capital Budgeting ◽  
Cash Flows ◽  
Separation Principle ◽  
Discount Rates ◽  
Present Value ◽  
Investor Returns

The traditional application of the net present value method in capital budgeting involves the use of market derived discount rates such as the cost of capital. Justification of these discount rates stems from the separation principle that states that investment decisions can be made independent of shareholders' tastes and preferences. The purpose of this paper is to show that the separation principle does not hold for closely-held firms and small firms, and, accordingly, market-derived discount rates are inappropriate. Two capital budgeting techniques which are appropriate for these firms are presented. Accept/reject decisions for capital budgeting projects are often made using a technique known as “net present value” (NPV).1 Using the NPV method, acceptable projects are those for which the project's cost is less than the present value of the project's cash flows discounted at the firm's cost of capital; in other words, acceptable projects have a positive NPV. The firm's cost of capital is usually taken to be the weighted average of the firm's cost of equity and debt as measured by investor returns in the capital markets. Justification for use of a discount rate, determined by reference to market-wide investor returns, is based on “the separation principle” which asserts that corporations can make capital budgeting decisions independently of their shareholders' views.2 But because a critical assumption of the separation principle is that shares are readily marketable, it is likely that the separation principle and, hence, market-determined discount rates are inappropriate for closely-held firms and small firms.3 In this paper, we discuss two capital budgeting approaches which are applicable to firms whose shares are not readily marketable. This paper is divided into five sections. First, we discuss the traditional net present value approach to capital budgeting and, then, we indicate in detail, why it may not be suitable for use by closely-held firms and small firms. In the third and fourth sections, we explain two capital budgeting techniques which may be appropriate for use by these firms. Finally, we summarize our conclusions.

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