Outbreaks of foodborne pathogens like bacteria, viruses, and parasites can cause a variety of health concerns ranging from minor issues to kidney failure and death. Sprouts, infant formula, and cantaloupe have been contaminated consistently, resulting in outbreaks that have been managed by the FDA to protect consumers. However, these outbreaks do not just harm consumer health. They hurt the economy, too.
From 2013 to 2018, foodborne illness outbreaks accounted for an increased $2 billion in consumer spending. Why? While recent overall inflation has been generally low in comparison to previous years, this same trend is not reflected in the healthcare sector, which has seen significant increases in prices.
Three particular illnesses (Salmonella, Listeria, and Toxoplasma) have been the most significant drivers of inflation, accounting for the overall most expensive hospitalization-related illnesses from 2013 to 2018. As outbreaks occur, hospitalization rates increase, as does household spending. Hence, a lack of a food safety is just as much an economic concern as it is a health one.
The FDA must strengthen its regulatory policies to reduce foodborne illness outbreaks. If it fails to do this, more people will die, and those who survive will be faced with rising medical costs. In the long run, this will hurt the macroeconomy by driving up consumer costs.
https://www.cdc.gov/foodsafety/outbreaks/lists/outbreaks-list.html
https://www.ers.usda.gov/amber-waves/2021/april/economic-cost-of-major-foodborne-illnesses-increased-2-billion-from-2013-to-2018/
It is crazy to see how something like foodborne illness can impact our economy. If the FDA can help reduce these illnesses, our economy will be better off. However, I am curious if implementing policies to make that happen will impact other sectors of our economy. I also wonder how likely it is that the FDA will make efforts to do this. They are surely busy with other health-related things like vaccines. It will take money and their attention/time to make this happen.
ReplyDeleteI know Covid-19 is not related to a lack of FDA regulations, but I wonder what that number (change in consumer spending) looks like for 2018-now since hospitalizations and healthcare went nationally scarce for a period of time...
ReplyDelete