The First Wealth

IMF Blog, December 8, 2014

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Title: The First Wealth
Author: Jeff Hayden
Publication date: December 8, 2014
Central premise: "The first wealth is health," a quotation attributed to Ralph Waldo Emerson (1860), framing health as the foundation for individuals, communities, and economies.

Humanity has made significant advances: development of vaccines and medical techniques, and increased access to clean water and sanitation.
Persistent and stark disparities:
- A 38-year gap in life expectancy between Japan (83 years) and Sierra Leone (45 years).
Contemporary reminder of vulnerability:
- As the December issue went to press, the world was dealing with the worst outbreak of the Ebola virus on record.

Focus on health systems as "the amalgam of people, practices, rules, and institutions that serve the health needs of a population."
Role of good health in economic mobility:
- David E. Bloom underscores the role good health plays in an individual’s or household’s ability to rise, or stay, above the poverty line.
Public health spending trends and analysis:
- Victoria Fan and Amanda Glassman examine the shift in public health spending from central governments to states and cities.
- Benedict Clements, Sanjeev Gupta, and Baoping Shang analyze whether the recent slowdown in public health spending in advanced economies is permanent.

Reports from practitioners and leaders:
- Health ministers from Colombia and Rwanda discuss major challenges they face.
- The CEO of a pharmaceutical company describes impediments to developing drugs to fight emerging diseases.
Special feature: consideration of four major health threats of the 21st century.

Profile: Maureen Burke profiles 2012 Nobel Prize winner Alvin Roth.
Visual feature: "Picture This" offers insight into an increasingly urbanized world.

IMFBlog purpose: a forum for the views of IMF staff and officials on pressing economic and policy issues of the day.
IMF context: The IMF, based in Washington D.C., is an organization of 191 countries, working to foster global monetary cooperation and financial stability around the world.
Disclaimer: The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board.

Source: IMFBlog page "The First Wealth" (December 8, 2014).