The Economy, Stupid

All By Myself: The Economics of Loneliness.

Apr 25, 2024

Experts discuss the economic and health impacts of loneliness, comparing it to smoking 15 cigarettes a day. Data shows a shift in loneliness from older to younger Australians. Technology is examined as a factor contributing to increased loneliness, especially among Gen Z. Policy challenges and investments in services are explored to address the loneliness epidemic.

29:07

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Quick takeaways

Loneliness has a significant economic impact and health consequences like smoking 15 cigarettes a day.

Younger Australians are now experiencing higher rates of loneliness due to factors like social media and psychological distress.

Deep dives

The Impact of Loneliness on Health and Well-being

Loneliness is highlighted as a significant public crisis with deadly consequences affecting physical and mental health. Chronic loneliness poses a serious threat, but even sporadic periods of loneliness can impact individuals differently across age groups, cultural backgrounds, and sexual identities. Research indicates that loneliness is linked to poorer health, disability, and can lead to increased healthcare visits, impacting individuals' life expectancy.

Introduction

2min

The Economic Costs and Trends of Loneliness in Australia

2min

Trends in Loneliness Among the Elderly

5min

Loneliness and its Impact on Health

3min

The Impact of Technology on Loneliness Among Young People

14min

Policy Challenges and Investments to Address Loneliness

3min

Research shows loneliness costs the Australian economy $2.7 billion per year or $1565 per person.

The World Health Organisation has also declared loneliness to be a global health concern. And it’s estimated loneliness has an equivalent health impact on the body to smoking 15 cigarettes a day.

Before the pandemic older Australians were found to be the loneliest in the nation. But now the data now shows this has shifted and younger Australians are the feeling the effects of being alone and isolated.

Technology has allowed us to be more connected than before, but has all this left us lonelier than ever?

Guests:

Andrew Dempster, Principal Director & Leader of the National Mental Health Advisory Business, KPMG

Roger Wilkins, Professorial Fellow at Melbourne Institute of Applied Economic and Social Research, and Co-Director of the HILDA Survey

Liesel Sharabi, from the Hugh Downs School of Human Communication at Arizona State University.

Lixia Qu, Senior Research Fellow at the Australian Institute of Family Studies.

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The Economy, Stupid

All By Myself: The Economics of Loneliness.

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The Impact of Loneliness on Health and Well-being

Loneliness Trends Across Different Age Groups

Socioeconomic Factors and Loneliness

Remember Everything You Learn from Podcasts