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Information Journal Paper

Title

The Present Value of Human Lives Lost Due to COVID-19 in the United Kingdom

Author(s)

 Kirigia Joses Muthuri | Deborah Karimi Muthuri Rose Nabi | Issue Writer Certificate 

Pages

  237-246

Abstract

 Introduction: Approximately 43906 human lives were lost to COVID-19 by July 2, 2020, in The United Kingdom (UK). This study estimated the total present value of human lives lost due to COVID-19 in the UK as of July 2, 2020. Background: The ongoing global COVID-19 pandemic has disrupted external trade and negatively impacted on all the socioeconomic sectors in the UK. Objectives: The objective of this study was to estimate the total present value of human lives lost due to COVID-19 n the UK as of July 2, 2020. Methods: The human capital approach was employed to value human lives lost into money, assuming a 3% discount rate and an average life expectancy of 81. 8 years in the UK. The economic model was re-estimated using (a) 5% and 10% discount rates, and (b) the average world life expectancy of 72 years, and (c) the world’ s highest life expectancy of 88. 1 years to test the robustness of the total present value of human lives lost. Results: The human lives lost had a total present value of the international dollar (Int$) of 9883426226 and an average present value per human life of Int$ 225104. Approximately 76. 2% of the total present value was sustained by those aged 30 and 79 years. Re-estimation of the model with discount rates of 5% and 10% instead of 3% reduced the total present value by Int$ 1158424570 (11. 7%), and Int$ 3058724257 (31. 0%), respectively. Conclusion: The average present value per human life was almost five-fold the UK’ s GDP per person in 2020. The presented evidence could be used to advocate for increased investments into the British National Health Service and other health-related systems to optimize Universal Health Coverage, International Health Regulations capacities, and secondary education coverage to better mitigate economic and human suffering during future pandemics.

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    Cite

    APA: Copy

    Kirigia, Joses Muthuri, & Deborah Karimi Muthuri, Rose Nabi. (2020). The Present Value of Human Lives Lost Due to COVID-19 in the United Kingdom. PHARMACEUTICAL AND BIOMEDICAL RESEARCH, 6(3), 237-246. SID. https://sid.ir/paper/763945/en

    Vancouver: Copy

    Kirigia Joses Muthuri, Deborah Karimi Muthuri Rose Nabi. The Present Value of Human Lives Lost Due to COVID-19 in the United Kingdom. PHARMACEUTICAL AND BIOMEDICAL RESEARCH[Internet]. 2020;6(3):237-246. Available from: https://sid.ir/paper/763945/en

    IEEE: Copy

    Joses Muthuri Kirigia, and Rose Nabi Deborah Karimi Muthuri, “The Present Value of Human Lives Lost Due to COVID-19 in the United Kingdom,” PHARMACEUTICAL AND BIOMEDICAL RESEARCH, vol. 6, no. 3, pp. 237–246, 2020, [Online]. Available: https://sid.ir/paper/763945/en

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