EFFECT OF HEALTH STATUS ON LABOR FORCE PARTICIPATION IN NIGERIA
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EFFECT OF HEALTH STATUS ON LABOR FORCE PARTICIPATION IN NIGERIA
Chapter two.
REVIEW OF RELATED LITERATURE.
2.1 Theoretical Literature Review.
Grossman’s (1972, 2000) demand for health model examined the link between individual health, human capital, and labour force participation. The model is based on Becker’s (1964) model of human capital theory.
According to this concept, an individual’s health stock influences how much time they spend working, but their knowledge stock defines their market and non-market production (Grossman, 2000).
According to Becker (1964), an individual’s present health stock is determined by previous health investments and the pace at which health stock depreciates. Health encompasses both consumption and production products.
As a consumption good, it enters an individual’s utility function since there is a psychic benefit connected with health. As a production input, health is important because it frees up streams of healthy time that may be used to produce both health and non-health items (Novignon, Novignon, and Arthur, 2015).
However, an individual’s health stock depletes with time, nearing a point at which death is possible, but the rate of depreciation can be reduced through optimal health investment, which includes healthcare, healthy eating, housing, and sleep (Grossman, 1972).
According to the pure investment model, health capital is an output generated from time committed to health production; thus, excellent health allows for more time to engage in productive activities that define income levels during an individual’s lifetime.
Conceptual Issues
Health is a unique characteristic of humans that determines to a large part the ability to use one’s own physical and mental efforts, abilities, and experience in the job market. Similarly, an employee’s health affects his or her professional progress.
Health is one of the uncommon products that are difficult to judge. Aside from education and professional experience, health is one of the three most essential elements influencing the quality of human capital.
According to a universal definition of health proposed by, health is more than just the absence of sickness or impairment; it is also a state of total physical, mental, and social wellbeing.
What should be noted in the context of the above definition is that the state of health is most commonly characterised using a subjective appraisal of one’s well-being rather than hard quantitative indications (e.g., blood pressure level). Such a notion of health has significant implications.
To begin, two hypothetical people with ‘objectively’ equal health conditions (as determined by medical test findings) may judge their health in two distinct ways. The ‘burdensomeness’ of health problems is largely determined by the individual’s subjective assessment of them.
Another consequence of the established definition of health is the use of standard ranges in its measurement. People who enjoy good health are not those who have no symptoms (it is difficult to talk about perfectly healthy people nowadays
given the present state of diagnostics advancement), but those for whom aches and pains or medical indicators do not interfere with their well-being.
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