Previous analyses have documented increased health care costs for children with autism spectrum disorders but have not provided comprehensive estimates of the total economic burden.
There are substantial additional costs associated with caring for children with autism spectrum disorders, amounting to >$17 000 per child annually. Costs accrued outside of the health care system account for the majority of the financial burden. (Read the full article)
Sudden cardiac death in young athletes is an uncommon but devastating event. Addition of routine electrocardiogram (ECG) screening to standard preparticipation care may reduce the number of sudden deaths. Lack of data regarding effectiveness and costs has prevented widespread implementation.
Adding ECG screening to current preparticipation evaluation is not cost-effective. Cost is driven primarily by the evaluation of the large number of false-positive findings. An ECG-only screening strategy is more cost-effective. (Read the full article)
On cronies, cranks and the coronavirus.
Members of the future American workforce could see losses of earnings that add up to trillions of dollars, depending on how long coronavirus-related school closures persist.
The post Economists Expect Huge Future Earnings Loss for Students Missing School Due to COVID-19 appeared first on Market Brief.
American Diabetes Association
May 1, 2018; 41:917-928
The Costs Of Diabetes
American Diabetes Association
Apr 1, 2013; 36:1033-1046
Scientific Statement
American Diabetes Association
May 1, 2018; 41:917-928
The Costs Of Diabetes
1 November 2008 , Number 1
The new American president will not be inaugurated until January 20. He will certainly face the most difficult economic conditions since Franklin Roosevelt entered the White House in March 1933. The politics of presidential transition – in this year, as seventy-six years ago – seem likely only to exacerbate the global crisis.
6 November 2019 , Volume 95, Number 6
Invitation Only Research Event
Chatham House | 10 St James's Square | London | SW1Y 4LE
Professor Nick Binedell, Founding Director and Sasol Chair of Strategic Management, Gordon Institute of Business Science (GIBS), University of Pretoria
South Africa has significant economic potential based on its resource endowment, quality human capital and well-developed infrastructure compared to the region. However, the country’s economic growth rate has not topped 2 per cent since 2013, and in 2018, was below 1 per cent. This has put a strain on citizens and communities in a country that still suffers from structural inequality, poverty and high unemployment. Economic recovery and anti-corruption were the central pillars of President Cyril Ramaphosa’s 2019 electoral campaign and he has set an investment target of $100 billion. However, voters and investors alike are demanding faster and more visible progress from the country’s enigmatic leader who has a reputation for caution and calculation.
At this event, Professor Nick Binedell will discuss the progress of and opposition to the president’s economic reform agenda and the opportunities for international investment to support long term inclusive and sustainable growth in South Africa.
Attendance at this event is by invitation only.
(To watch the whole media session with sign language interpretation, click here.)
Hong Kong's economy in the first quarter of 2020 contracted 8.9% over a year earlier, the largest decline on record since 1974.
The Census & Statistics Department announced the findings today as it released advance estimates on Gross Domestic Product for the first quarter.
Addressing the media today, Financial Secretary Paul Chan noted the economic recession deepened in Hong Kong in the first quarter of 2020.
“Although locally, the epidemic situation seems to be under control, but the external environment is still very challenging. Globally, the epidemic is yet to be put under complete control. That will affect our exports. That will also affect international travelling and business investments.
“So, going forward in the second quarter, we believe that even if there is improvement, the improvement will be gradual and small.”
According to those estimates, private consumption expenditure decreased 10.2% in real terms in the first quarter from a year earlier, deteriorating from the 2.9% decline in the fourth quarter of 2019.
Government consumption expenditure grew 8.3% year-on-year, after the increase of 6.1% in the fourth quarter of 2019.
Gross domestic fixed capital formation dropped by 13.9%, compared with the decrease of 16.8% in the previous quarter.
Over the same period, total exports of goods declined 9.7% and imports of goods also fell 10.9%.
Exports of services dropped 37.8% and imports of services decreased 25.4%.
Mr Chan called on people to work together to promote economic development by consumption.
“If we are able to work together, if we can unite together - not just to fight the virus, but to stimulate consumption to promote economic development - I think the economic situation will be able to stabilise somewhat in the second quarter.
“If the global epidemic situation improves, we will be able to come out of recession gradually towards the end of this year.
“I will appeal to our people's support for us to roll out various measures in the Anti-epidemic Fund - round one and round two - as well as the relief packages in the 2020-21 Budget as soon as possible.
“Many of those initiatives are still yet to be implemented. Upon full implementation of those measures, I think the positive impact on the economy would be better felt by the community. We will be monitoring the situation carefully.”
The Government stands ready to roll out additional measures to support Hong Kong people and the businesses, Mr Chan added.
Invitation Only Research Event
Chatham House, London
Economic populism is on the rise on both sides of the Atlantic. In the US, both Donald Trump and Bernie Sanders have made protectionist arguments and appealed to voters who feel left behind by globalization. In Europe, left-wing groups like Syriza in Greece and Podemos in Spain as well as far-right groups like France’s Front National, Germany’s Alternative für Deutschland (AfD) and the UK Independence Party are capitalizing on the anti-globalization mood.
Manifestations of the current anti-trade and anti-globalization movements include opposition to trade initiatives like the Transatlantic Trade and Investment Partnership (TTIP) and the Trans-Pacific Partnership (TPP) as well as populist calls for an end to the austerity measures and economic reforms that were introduced in the wake of the euro crisis. There have been questions regarding whether capitalism can respond to the rise in inequality seen in many Western states. Many populists also share a distrust of those they perceive as elite policy-makers and a desire to reclaim national sovereignty from international institutions. Thus, the rise of populism could have far-reaching consequences for trade and economic policy-making and the existing trade and broader economic architectures.
The US and the Americas Programme at Chatham House and the German Marshall Fund of the United States in cooperation with the Konrad Adenauer Stiftung will convene an expert roundtable to provide insight and analysis geared towards examining key drivers behind the rise of economic populism, its implications for the international economic system, and possible ways to mitigate the effects of populism in the economic arena.
Attendance at this event is by invitation only.
To enable as open a debate as possible, this event will be held under the Chatham House Rule.
Economists are in agreement that returning to business as usual too soon could have devastating effects for GDP as well as human lives.
Economic impact of air shutdown is estimated at £40bn, and cruise suspension £2.4bn
Economist Nouriel Roubini correctly predicted the 2008 financial crisis. Now, he believes that stock markets will plunge by 30 to 40 percent because of the coronavirus. And that Trump will lose his re-election bid.
How do we revive the economy once the pandemic passes? Coronavirus has Australia headed for a deep recession, so what can we do now to plan our way out of it? Is the answer more government intervention and state planning? Or, is now the time to launch a new reform agenda that sharpens the incentives to work, save, invest and hire? And, Alexander Downer: “I don’t know what China’s problem is” Prime Minister Scott Morrison has called for an investigation into the origins of the virus. But China’s Ambassador in Canberra upped the stakes this week by threatening a trade and tourism boycott of Australia. Australia’s longest serving Foreign Minister, Alexander Downer says China’s Cold War style rhetoric will backfire on it, and it is in everyone’s interests to investigate the origins of the virus. But as we head into recession, can we afford to aggravate our largest trade partner?
The National Retail Federation's Chief Economist Jack Kleinhenz believes the economic recovery in the United States from the Coronavirus crisis would come gradually and may vary by location depending on the severity. His remark comes as more and more stores are reopening across the country after at least 30 U.S. states began easing lockdown restrictions and decided to reopen businesses...
What do the latest unemployment rates mean for the U.S. economy? NPR's Noel King speaks with Heidi Shierholz of the Economic Policy Institute and Claudia Goldin of Harvard University.
What do the latest unemployment rates mean for the U.S. economy? NPR's Noel King speaks with Heidi Shierholz of the Economic Policy Institute and Claudia Goldin of Harvard University.
The Secret Ingredient is “Economic Man.” Swedish economist Katrine Marçal, author of “Who Cooked Adam Smith’s Dinner?” guides the conversation on the role of gender in economics and food politics along with Raj Patel, Tom Philpott and Rebecca McInroy.
Copyright 2020 NPR. To see more, visit NOEL KING, HOST: The news from the Labor Department this morning is staggering - 20.5 million jobs, that's how much the U.S. lost last month. The unemployment rate is now at 14.7%. By way of comparison, in February, the unemployment rate in this country was about 3.5%. This is the worst it's been since 1940. What does this mean as we move forward, and can we learn anything from the past? With me now to help answer that, Heidi Shierholz, who's an economist at the Economic Policy Institute, and Claudia Goldin, who's an economic historian and a professor of economics at Harvard. Good morning to you both. HEIDI SHIERHOLZ: Good morning. CLAUDIA GOLDIN: Good morning. KING: Heidi, let me start with you. We're looking at job losses of, as I said, more than 20 million, with unemployment pushing toward 15%. Which of those numbers is more helpful to understanding how we are doing? SHIERHOLZ: They're both useful, but the 20 million is more - it gives more of
What is a recession? How can it impact you? What can be done to make economic downturns more manageable? Join Jason Schenker as he describes an economy in recession, how recessions impact various industries, personal and business strategies to counter recession risks, and the drivers that bring an economy out of recession. He covers how recessions impact jobs, industries, and financial markets. He discusses consumer spending, real estate, stocks, interest rates, business strategy, and investments. Jason also shares what he considers to be the number one rule for workers to keep in mind.
This research models a wood pellet heating system at the Tlingit-Haida Regional Housing Authority in Juneau, Alaska, used to provide thermal energy to a 929-m2 warehouse, as an alternative to a heating system that burns more costly fossil fuels. Research objectives were to evaluate project economics of the pellet system and to conduct cost:benefit analysis on key variables (initial capital cost, fuel oil cost, and wood pellet cost). Economic results of interest included net present value, payback, internal rate of return, and cost:benefit ratio. Monte Carlo simulations were conducted using RETScreen software with the parameters of heating oil cost, wood pellet cost, fuel price escalation, and heating load. Cost:benefit analysis was conducted for capital cost versus wood fuel cost and also versus alternative fuel cost. This research found that economic performance was favorable over a wide range of normal operating conditions, even when paying a relatively high price for wood fuel. A pellet production facility in southeast Alaska could lead to lower wood fuel costs and even more favorable regional economics.
Over the past decade, the use of wood for thermal energy in Alaska has grown significantly. Since 2000, nearly 30 new thermal wood-energy installations in Alaska have been established.
Cement is a perfect barometer to gauge economic activity. On May 5, a day after India began a graded opening up in its fight against the scourge of the novel coronavirus, economic activity could be tracked by the movement of rakes carrying cement: 7 out of every 10 trains were chugging towards green and orange zones, bypassing the prosperous districts in the red zone.The government, by then, had colour-coded all 733 districts in the country. The 130 districts that were the worst affected by Covid-19 were in the red zone. Suddenly, the country’s biggest and most vital commercial hubs such as Mumbai, Delhi, Pune, Ahmedabad and Chennai were hotspots. The virus-free 319 districts were coded green and the rest 284 districts, which were only moderately affected, were called orange. The many guidelines issued by the Ministry of Home Affairs, state chief secretaries and even resident welfare societies boiled down to the same thing — the harshest lockdown will be in the red zone, there will be partial relaxation in orange zones while green will be opened up, albeit with conditions.Cement movement is a good measure of economic activity on the ground as it is often ferried straight to project sites. When the nationwide lockdown began on March 25, all non-essential work, including construction, came to a grinding halt. And the rakes carrying cement stopped running. 75649505The railway data, previewed by ET Magazine, shows that 254 trains carrying cement were on the move on May 5 when Lockdown 3.0 began: 84 of them were travelling towards green zones, 99 to orange and only 71 to red.India in Numbers- Source: McKinsey (% of population- 2011 census)Total Districts in India: 733GREEN ZONE- 319 Districts- 24 per cent populationORANGE ZONE- 284 Districts- 43 per cent populationRED ZONE- 130 Districts- 33 per cent population49-57% Economic activity during the lockdown 41% Red districts’ share of economic activities 50% Share of red districts in households with annual disposable income of over Rs 4.85 lakh 143 mn Minimum number of inactive non-farm workers during lockdown (Note: Green districts are Covid-free for previous 21 days; red and orange zones are identified on the basis of positive cases, doubling rate, testing, etc.)The colour-coded division and lockdown of India raises three big questions. One, are the green and orange zones robust enough to fire up the nation’s $2.7 trillion economy? Two, can the lockdown in the red zones be stretched beyond May 17 even as the number of Covid-19 cases in the country jump to about 60,000 on Saturday morning, with almost all of the new active cases coming from the red districts? Three, if the lockdown is prolonged in the metropolises, have we calculated the impact on the economy? In essence, how should India navigate a health emergency and an economic crisis — both unprecedented in its nature and magnitude? 75649443Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council, resorts to Greek mythology to explain the dilemma India is in and the possible way out for it. Homer’s hero Odysseus, Debroy says, chose to sail closer to the sea beast Scylla and lose a few sailors, rather than lose his entire ship by travelling near the monstrous whirlpool Charybdis. In Debroy’s telling, the sea monster Scylla is the Covid pandemic and Charybdis is the economic toll. (See the column, “The Ship Inches a Little Away From Whirlpool”).That Greek myth could be a clue to what the Indian government is likely to do after May 17: lift the clampdown on entire districts and impose severe restrictions only on containment zones; kick-start the economy even as Covid cases and the death toll rise alongside. Says Debroy: “Mortality and morbidity apply to enterprises too; MSMEs more pronounced than most. The baseline GDP growth was already in slowdown mode and a capital crunch was compounded by lockdown’s labour constraint. There were both supply and demand shocks. That Scylla/Charybdis metaphor is apt, because Homer’s account tells us what Odysseus did.” 75649534“All the big cities are in red zones. Even if a factory opens in orange or green zone, who will it produce for? Red zones cannot turn orange quickly. So will you not allow the sale of nonessential items in red zones?” Arvind Mediratta, MD & CEO, Metro Cash & Carry.The worry about the nation’s economic health is palpable. If the lockdown continues in the commercial hubs any longer, the losses will pile up for many companies; the smaller firms likely to go under first. It will have a debilitating effect on the economy in general and jobs in particular. The Indian economy would be on the ventilator then.As those cement-carrying rakes show, there are many factories in orange and green zones as well, miles away from city limits. Work can begin there, and some have already started production. 75649555“There is total disruption. Supply chains are badly affected. Liquidity is a big issue. The govt must announce a stimulus package. I also urge the govt to stop the imports of all products that can be made in India” Gautam Singhania, CMD, RaymondBut the million-rupee question is, who are they producing for? The 130 districts in the red zone are critical centres of not just production but also consumption. Even as they account for 41% of national economic activity, 38% of industrial output and 40% of non-farm employment, they also have half of India’s consuming-class households — those with an annual disposable income of more than Rs 4.85 lakh each — according to a recent McKinsey report titled “Reopening India: Implications for Economic Activity and Workers”.Breaking the Value ChainFurthermore, dividing swathes of the country into zones and restricting movement of goods and people will have a disastrous effect on production, labour, supply and distribution chains, which are deeply intertwined. In the textiles sector, for example, if cotton is bought in the western parts of India, yarn is spun in the north and west, while weaving mostly takes place in the south, and apparel is manufactured in clusters in the north and south, as the McKinsey report further points out. Similarly, in the chemical industry, the acetic acid value chain supplies to a variety of industries such as pharmaceuticals, pesticides, paper, food processing and construction. Any blockage will have a ripple effect on sectors.Arvind Mediratta, managing director and CEO of Metro Cash and Carry, says dividing the country into colour-coded districts is unrealistic and the rules guiding it are arbitrary. “It seems those who designed it (colour-coded zones) are not aware of ground realities. All the big cities are in red zones. Even if a factory opens in orange or green zone, who will it produce for? Also, the implementation on the ground is arbitrary. In red zones today, you can buy liquor but not kitchen items,” says Mediratta.Mohit Anand, managing director of Kellogg, South Asia, says solutions have to be found locally. “Each region has its own issues, each warehouse and factory has a different problem. India is like 21 countries put together and, hence, the solutions also have to be hyperlocal in nature,” he says. In red zones, not only are malls and market places shut but ecommerce firms are barred from selling non-essential items. An Amazon spokesperson says when restrictions were lifted, the company saw a huge demand from orange and green zones for smart devices, kitchen appliances, baby clothes and products related to study-from-home. “The opening up of these areas for ecommerce has meant that thousands of small businesses received orders for the first time in the past many weeks of lockdown,” the spokesperson adds. Consumers and businesses in the red zone, meanwhile, have to wait. 75649590“MMCAS (manufacturing, mining, construction and allied services) constitutes about 50% of GVA and about 35% of employment. This segment must be freed up, even in red zones” Arvind Virmani, Former chief economic adviser.Out of WorkThe lockdown has seen a massive reverse migration of workers. Deprived of work and wages for weeks, hundreds of thousands of labourers have left cities. In sheer desperation, many hid in trucks and freight trains and trudged hundreds of kilometres to reach home. It was only after 40 days of lockdown that the government arranged special trains for them— by Saturday, 302 trains have ferried around 3.4 lakh migrant workers to their native states.Some states are worried about reverse migration at a time when factories are reopening and life in green pockets are returning to normalcy. Karnataka even made an abortive attempt to stop such special trains to stonewall the return of migrant labourers. Rajasthan Deputy Chief Minister Sachin Pilot says workers should be persuaded to stay back. He says: “There is a cost to the migrants’ travelling back to their native districts. Once a worker goes home, she won’t return in the next three-four months. I feel that only those who are desperate and determined to return home should go; the rest should stay back, taking temporary jobs. They won’t be gainfully employed in their native areas.” The loss of workforce will particularly affect states such as Maharashtra, Delhi, Andhra Pradesh, Telangana, Karnataka and Kerala that rely heavily on migrant workers in construction and services sectors. 75649620“After Covid-19 there will be new normals: new models of engagement between companies and their clients” Keshav Murugesh, Group CEO, WNS Global ServicesMontek Singh Ahluwalia, former deputy chairman of the Planning Commission, says labourers will not return to cities anytime soon, and it will be one of the factors that will prolong the economic pain. He says green and orange zones cannot help in economic revival “as 60% of the economy is in the red zone”. Even if restrictions in all the zones are lifted, he says, it will take some more time for economic activity to get back to normal. “The reverse migration that has taken place may not be quickly reversed. Recession in the world economy and reduced level of remittances will have a negative impact. Private sector investment plans which have been interrupted will take time to resume. That is why many analysts are predicting that we may see negative growth in 2021, with recovery beginning only next year,” Ahluwalia adds.In this pervasive gloom, some indicators offer flickers of hope. Bengaluru-based trucking platform BlackBuck has seen a spike in bookings on the back of a good harvest. The agri pickup is likely to continue into the kharif season, with the India Meteorological Department forecasting a good monsoon. Cofounder Rajesh Yabaji says: “We have seen 80,000 bookings since we opened up our commission-free platform in April-end. Now, we estimate truck traffic to be at 50% of pre-lockdown trucking movement.”On April 29 and 30, two freight trains originating from Karnataka ferried about 350 new tractors to Rajasthan and Gujarat, responding to demand in western India ahead of the kharif season.Companies are ramping up production of agri-related items to meet seasonal demand from rural India. Hemant Sikka, president, farm equipment sector, Mahindra & Mahindra, says the company has resumed production in its tractor plants in Rudrapur (Uttarakhand), Nagpur (Maharashtra) and Mohali (Punjab) after getting necessary approvals. 75649661“With dealerships opening up, bounty harvest and forecast of a normal monsoon, the tractor industry will perform well” Hemant Sikka, President, farm equipment sector, Mahindra & Mahindra.“The highest levels of safety protocols and social distancing are being ensured at the plants, especially on the shop floor. With dealerships gradually opening up, a bounty harvest and forecast of a normal monsoon, I am positive that the tractor industry will perform well and ensure rural growth and prosperity during the year,” says Sikka.Farming sector is likely to get a boost this year with labourers who are back from the cities lending a hand on the fields. The number of people engaged in work under NREGA (National Rural Employment Guarantee Act) has swelled multiple times. In Rajasthan, as against 62,000 NREGA workers on April 18, there were 16.5 lakh on May 5. All of them are engaged in their own farmland, receiving Rs 220 daily from the government.While agriculture could be a sector to watch out for in the coming months, the Covid-19 crisis will inflict a body blow to sectors such as hospitality and tourism, which are likely to remain dormant for quite some time even after the lockdown is lifted. 75649456After Covid The post-Covid world will be vastly different from the before-Covid universe we have left behind. Keshav Murugesh, group CEO of WNS Global Services and former chairman of Nasscom, says there will be “new normals”. Clients and BPO companies will come up with ingenious models of engagement. Work from home could become the norm even if it leads to productivity loss. “At WNS, we are in no hurry to go back to office in May although work from home would mean productivity would drop to 85%,” says Murugesh, adding that uninterrupted power supply at homes is essential for making the model a success in the longer term.Saugata Gupta, managing director of consumer goods company Marico, says they are strategising on new pricing to sell their products effectively in a post-Covid environment. “We have to be cognisant of the fact that with mounting pressure on consumers’ disposable income, there will be a risk of downtrading. So, one has to be very careful on pricing, and we have to ensure a good value to consumers. Any gains on input costs need to be passed on to consumers,” says Gupta, adding that the opening up of green zones is good news for them as many of their products are popular in rural markets. 75649645“Each region has its own problems. India is like 21 countries put together, and solutions also have to be hyperlocal in nature” Mohit Anand, MD, Kellogg, South AsiaGautam Singhania, chairman and MD of Raymond, says there seems to be a communication gap between the Centre and states. He says: “There is total disruption. The supply chains are badly affected. Liquidity is a big issue and banks are not willing to pump in cash now. It is high time the government took this up, and announced a stimulus package.” He proposes a ban on imports. “For one year, we should follow the motto of buying only Indian products. I urge the government to stop imports of products that can be made in India. This is a question of survival.”India Inc, by and large, has come to terms with the new reality that till a vaccine for Covid-19 is discovered, the companies will be forced to shed some productivity by allowing employees to work from home and by deploying fewer labourers to ensure social distancing.The government, however, cannot remain in stasis till a vaccine is discovered. It has to take a call on whether a blanket ban on economic activities in red districts is the way forward. Former chief economic adviser Arvind Virmani says economic activities should be allowed in red zones. “We estimate that MMCAS (manufacturing, mining, construction and allied services) constitutes about 50% of GVA (gross value added) and about 35% of employment. This segment of economy must be freed up entirely, even in red zones, with restrictions such as physical distancing,” he says.The virus is not going away anytime soon. The hastily drawn colour codes will have to be smudged away now. Otherwise, an economic contagion will be upon us.Read More1. Our first objective is to provide value to customers: Saugata Gupta, MD, Marico2.Economy likely to show negative growth in current year: Montek Singh Ahluwali3. Rajasthan’s thrust will be on textile, agriculture and domestic tourism: Sachin Pilot4. With a phased opening, India tries to avoid a grave economic toll: Bibek Debroy
The decision of South Dakota v. Wayfair is causing states to enforce economic nexus laws to collect sales tax from out-of-state sellers with a connection to the state. These laws affect online retailers and multi-state businesses who collect revenue up to the threshold amount in a state. To understand which states your business may be...
The post Economic Nexus by State Following South Dakota v. Wayfair appeared first on Anders CPA.
Umair Haque, director of the Havas Media Labs and author of "Betterness: Economics for Humans."
Economic & Health Policy Implications
Economic rut spurs ecological rush, EPA vs. 'glymes,' icebergs vs. drought, and more.
Economists might like the idea, but the public doesn't seem to yet.
Air quality in the Greek city of Thessaloniki has worsened during the recent economic crisis, as residents burn more wood and other types of biomass to keep warm. A recent study has found a 30% increase in the concentration of fine particle (PM2.5) emissions associated with wood smoke from residential heating in 2012 and 2013, with implications for the health of local residents.