The Economics of Mental Health and Well-Being: A Review of the Literature

Abstract

Mental health and well-being are critical components of individual and societal welfare. Despite their significance, mental health has been a neglected area in economic research for a long time. In this review paper, we examine the existing literature on the economics of mental health and well-being. We first provide a brief overview of the epidemiology and economic burden of mental illness. Next, we discuss the economic determinants of mental health and well-being, including income, employment, education, and social connections. We then explore the role of policies in promoting mental health and well-being, including mental health care services, workplace interventions, and social policies. Finally, we highlight some promising areas for future research.