Economic growth is a good thing for the country, and a good thing for workers who are able to get better jobs in a more competitive economy. Unfortunately, a new article from Safety News Alert suggests there are some substantial downsides to an improved economy. The biggest downside: more people will die.
There are many different reasons why more fatalities happen during good economic times than during bad economic times. One of the big reasons is that more people are hurt or killed at work since there is an increase in employment, especially in higher risk industries like the construction industry. However, it is not just occupational injuries and fatalities that rise. People across all walks of life face a higher risk of death in good economic times.
When injuries or fatalities happen, victims or family members of those who died must understand their rights and must take steps to try to protect their ability to obtain benefits and compensation. New York injury attorneys can provide help to those who were harmed.
Why Do More People Die When the Economy is Good?
According to Safety News Alert, researchers looked at 200 years of data from 32 different countries. In doing so, they determined that when gross domestic product (GDP) exceeds the expected amount of a company’s economic output by five percent, there is a one percent increased chance of death for adults. This phenomenon is seen only in industrial economies. In agrarian economies, economic growth improves health outcomes and decreases death rates.
Death rates rise in industrial economies when economic growth is good for lots of different reasons. One of the leading causes of higher death rates is an increase in pollution. A booming economy means more production, a rise in pollution, and more people getting sick. In situations where toxic exposure to pollutants can directly be traced to a job, or to a negligent company, those who are hurt or killed by the pollution can pursue a claim to obtain compensation for damages and losses.
Alcohol-related deaths are the second biggest factor contributing to higher death rates in boom times. Better economic conditions result in more drinking, and this leads to more accidental deaths. Those who are hurt or killed by impaired drivers obviously have the right to pursue a claim for compensation for losses.
Both occupational hazards and increased use of automobiles are two other factors listed to explain higher death rates. More people work, thus more work accidents are likely when the economy is good. More people also drive, leading to more road congestion and higher risks of serious or fatal auto accidents.
Whatever the cause of injury or death that affected you or your loved ones, you should take legal action if you believe a third party was to blame. New York injury attorneys can provide you with assistance in making a claim to obtain compensation for loss. Call an attorney as soon as you can following the incident that causes harm so you can get your case for compensation underway.