This past semester Prof. Mengsteab Tesfayohannes-Beraki shared his research paper entitled "The Impact of Human Health on Grassroots Entrepreneurial Based Economic Development" at our Business Management and Economics Seminar Series.
His research explores the impact of health and well-being on grassroots entrepreneurship, based on economic growth and development. This aims to enhance the awareness of concerned policymakers and other stakeholders. These efforts will seek to shrink the population living in poverty. Professor Tesfayohannes-Beraki further expresses these efforts should not be an expensive burden. Instead, it plays a supportive role as an influential contributor to our national economic growth. He expressed protecting health and wellness at the grassroots level means directly promoting a healthy and creative entrepreneurial populace.
Throughout his presentation, he noted that the United States has one of the highest healthcare costs in the world, this demands continuous improvement. Indeed, human talent plays a cardinal role in the process of communities’ socio-economic development. The negative economic impacts of ill health are one of the main factors in this equation. An unhealthy population reduces human entrepreneurialism, innovativeness, creativity, and productivity. Prof. Tesfayohannes-Beraki concludes that this has adverse effects on the efforts to advance the standard of living and wealth creation nationally.
In his research, Prof. Tesfayohannes-Beraki specifically stressed that the two of the most important contributing sectors to promoting a healthy, creative, entrepreneurial, and innovative populace are healthcare and education. An unhealthy population reduces workforce participation and productivity. It negatively affects living standards within the community. His research provided recommendations and justifications for improvement by utilizing comparative analysis outcomes and parameters of seven advanced industrialized nations. His study provided recommendations that can help shape the current US healthcare system to provide the best healthcare services at the grassroots level.
Professor Tesfayohannes-Beraki has a great outlook on how this can affect growth opportunities in our lower-income communities. As our country develops, we aim to raise these issues and better understand them to push forward.