Good afternoon,
In November 2020, I announced the creation of the Council on the Economics of Health for All.
I asked the Council, chaired by Professor Mariana Mazzucato, to rethink economic policy and practice in a way that serves health, rather than the reverse.
This reflects a paradigm shift in the world’s economic and public health logic.
The Council began its work in early 2021 and has, since, surpassed everyone’s expectations in the quality and scope of work they have produced.
They’ve looked at how to best measure economic development, as well as putting forward ideas on how to better finance, innovate and create the capacity to deliver health for all.
Now, the Council is finishing its work and publishing its final report.
Out of the major 13 recommendations, a few points caught my attention:
First, the report implores the world to stop using GDP as the measurement of progress. It doesn’t account for the vast resources that go into unpaid work, which is often the backbone of economic and social activity.
Second, it calls on countries and funding agencies to stop straightjacketing low- and middle-income countries via austerity measures, which prohibit investment in health.
It calls instead on financing for health to be both adequate and sustained over the long-term.
Third, the council noted that innovation works best when there are vibrant partnerships between the public and private sectors.
Those are just a few of the recommendations but I urge everyone to read this landmark report, which will impact thinking in this area for years to come.
I would like to thank Professor Mariana Mazzucato and her fellow Council Members – all women – who have broken such important ground with this report.
Thank you, Ilona Kickbusch and Jayati Ghosh and the other seven members who could not be with us today.