A Cancer Cure Would be Worth $50 Trillion

[Guest guest]

[This figure apparently just for the US. See:

www.chicagogsb.edu/capideas/feb06/1.aspx ]

Study: Cancer cure worth $50 trillion

By UNITED PRESS INTERNATIONAL

Published April 4, 2006

CHICAGO -- University of Chicago economists say finding a

cure for

cancer would be worth about $50 trillion in social value.

The study by and Topel of the

university's

graduate school of business suggests even a 1 percent

reduction in

cancer mortality would be worth nearly $500 billion.

Social value of improved health and longevity is the

amount in

dollars additional life years or other health improvements

are worth

to people, the report said. The value of improved longevity

is based

on what individuals gain from the enjoyment of consumption

and time

during an additional year of life, rather than how much

they earn.

" Since the benefits of cancer research are large,

substantially

greater research expenditures would be worthwhile, "

and Topel

wrote. "

During the 20th century, average life expectancy of

Americans

increased by 30 years, due in large part to medical

advances against

major diseases. The authors estimate that increase in life

expectancy

is worth more than $1.2 million for each American alive

today.

The study was presented Tuesday during the annual

conference of

the American Association for Cancer Research in Washington

and is to

be published in the Journal of Political Economy.