
A couple days late, but I couldn’t let the news pass without congratulating my former macroeconomics professor, Bob Hall, on receiving the Nobel Prize in Economic Sciences—an extraordinary and well-deserved recognition.
His work has long challenged us to think more broadly about the relationship between health and economic prosperity. In an influential paper, Bob demonstrated that traditional measures of economic success such as GDP can significantly undervalue the economic benefits of improvements in health. This reminds us that measures like GDP cannot fully capture what we gain when people live longer.
As NIH Director, I see that as a powerful way to think about our mission: scientific advances that improve health matter profoundly to individuals, families, and the nation.
By revealing the hidden economic value of longer, healthier lives, his research underscores the importance of making investments that improve the health of the population, which is exactly the mission of the NIH.
Having had the privilege of learning from Bob, it is especially meaningful to see his remarkable contributions recognized at the highest level.