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The economics of mental health

Author

Listed:
  • Richard Layard

    (LSE, UK, and IZA, Germany)

Abstract

In a typical country, one in five people suffers from a mental illness, the great majority from depression or crippling anxiety. Mental illness accounts for half of all illness up to age 45 in rich countries, making it the most prevalent disease among working-age people; it also accounts for close to half of disability benefits in many countries. Mentally ill people are less likely to be employed and, if employed, more likely to be out sick or working below par. If mentally ill people received treatment so that they had the same employment rate as the rest of the population, total employment would be 4% higher, adding many billions to national output.

Suggested Citation

  • Richard Layard, 2016. "The economics of mental health," IZA World of Labor, Institute of Labor Economics (IZA), pages 321-321, December.
  • Handle: RePEc:iza:izawol:journl:y:2016:n:321
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    Citations

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    Cited by:

    1. Janisch, Laura M., 2017. "Mental health assimilation of Australian immigrants," Ruhr Economic Papers 728, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    2. Manuel García-Goñi & Alexandrina P. Stoyanova & Roberto Nuño-Solinís, 2021. "Mental Illness Inequalities by Multimorbidity, Use of Health Resources and Socio-Economic Status in an Aging Society," IJERPH, MDPI, vol. 18(2), pages 1-18, January.
    3. Daniel Graeber & Daniel D. Schnitzlein, 2019. "The Effect of Maternal Education on Offspring's Mental Health," SOEPpapers on Multidisciplinary Panel Data Research 1028, DIW Berlin, The German Socio-Economic Panel (SOEP).
    4. Berthelon, Matias & Kruger, Diana & Sanchez, Rafael, 2021. "Maternal stress during pregnancy and early childhood development," Economics & Human Biology, Elsevier, vol. 43(C).
    5. Oparina, Ekaterina & Krekel, Christian & Srisuma, Sorawoot, 2024. "Talking Therapy: Impacts of a Nationwide Mental Health Service in England," IZA Discussion Papers 16839, Institute of Labor Economics (IZA).
    6. Benjamin Ly Serena, 2021. "Revisiting Offsets of Psychotherapy Coverage," CEBI working paper series 21-05, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).

    More about this item

    Keywords

    mental illness; psychological therapy; health; life-satisfaction;
    All these keywords.

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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