https://www.npr.org/2018/05/23/613854559/opioid-crisis-takes-a-toll-on-economic-outlook-for-many-americans-fed-says
The Fed conducted a national survey and for the first time they included questions regarding opioid addiction.
If economists are realizing the impact that opioid abuse and addiction are having on the economy, what would you consider to be the next step to try to address these trends in regards to trying to improve financial stability?
The fact that 20 percent of the decline of male participation in the labor force could be related to opioid abuse is definitely concerning. Although there are economic impacts, I've viewed this crisis as a social issue with negative externalities, and this appears to be one of them. Not sure what economists can do, but maybe offering employment programs that have positive therapeutic effects or connects recovering addicts with a sense of community would help.
ReplyDeleteI definitely agree with josh here. I definitely think the government has to step in here and create some kind of employment program to counteract this
DeleteI also agree.
DeleteTo improve financial stability for the opioid epidemic affected population, the first thing to do would be to address the opioid epidemic. I do not think economists can really provide much help besides reaffirming that the opioid epidemic is in fact taking a toll on the American population. By first addressing the opioid crisis, improved financial stability could be an additional effect.
ReplyDeleteI think that it's a cycle that reinforces itself
ReplyDeleteSome economists said street vendors are actually not profitable: not only their income is lower than the minimum wage line, but they are also risking their lives to be tackled. Therefore, if there is more available jobs for street vendors and addicts, it could approach economic stability.
ReplyDeleteThe fact that economists are starting to address this issue is important. It's becoming a relevant issue in all kinds of fields. Economists can help come up with solutions for addicts to be reconnected to society, socially and financially
ReplyDeleteI appreciate the fact that opioids are becoming more and more relevant in today's conversations and discussions. Regarding your question, however, I am not really sure what more economists can do to address the opioid crisis.
ReplyDeleteHopefully the economists can put their minds together to help addicts get their lives back together. I wonder if they could set up a system for addicts to make an honest living while trying to get clean at the same time.
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