There is a significant economic upside for countries that targeting aging. A new calculator launched by the Longevity Economics Institute allows users to estimate the economic value of expanding healthy lifespan in different countries.
The team behind the calculator aims to provide decision-makers and investors with deep expertise in the longevity industry and to support the establishment of longevity projects. The calculator evaluates the economic benefits of lifespan extension. Currently, calculations are available for 13 different countries, ranging from Sweden and Germany to the United States, Japan, and Australia.
For example, if the United States were to achieve five additional years of healthy life expectancy for its population, it could unlock an economic value of $225.6 trillion in total and $523,000 per capita. In Sweden, the estimated value would be $5.5 trillion, equivalent to approximately $427,000 per capita.
To calculate these values, the Longevity Economics Institute utilizes a model developed by economists Andrew Scott, Julian Ashwin, and Martin Ellison, along with biologist David Sinclair. In this framework, individuals contribute labor, consume goods, and take leisure time, forming the basis of economic impact assessments.
What Is a Life Worth?
The model is calibrated using the value of a statistical life (VSL), which quantifies society’s willingness to pay to preserve a single life. This value varies from country to country. In Spain, for example, the value of a statistical life is estimated at $6.8 million; in Sweden, it is estimated at $9.9 million; whereas in the United States, it is estimated at $11.5 million.
Thus, there are strong economic incentives for lifespan extension.
