Capitalism and the Erosion of Human Health: What the Pandemic Laid Bare

Abstract

The argument that capitalism is, contrary to the narrative of mainstream economics, bad for human health goes back to the work of Friedrich Engels and Karl Marx. By the end of the twentieth century and beginning of the twenty-first century the evolution of capitalism in terms of the rise of neoliberalism first and later monopoly and financialization has undermined the foundations of human health. The “vectors” through which this has occurred include inequality and poverty, production, marketing, and the consumption of harmful products such as ultra-processed foods, alcohol, and tobacco use, and the primacy of growth with its connections to pollution, climate change and poor and dangerous working conditions. We face a physical health crisis associated with increasing incidence of cardiovascular disease, diabetes, and cancer and a mental health crisis associated with increasing incidence of depression and anxiety. The massive loss of life from the COVID-19 pandemic laid bare how the foundations for health have been eroded over time. In this article we explore the connections between key features of capitalism and worsening health outcomes in the United States. We then identify key policy and institutional changes that would be necessary if we are to reverse these trends.