Thursday, June 5, 2008

Alcohol benefits the wallet

On one hand health authorities bemoan the abuse of alcohol, while on the other hand there are those promoting the potential health benefits of moderate alcohol drinking. The former causes car accidents, domestic violence and liver disease; the latter may be due to the alcohol reducing blood clots that cause heart attacks or possibly the antioxidants helping to protect heart and brain damage.

Yet, no-one tells you about another potential benefit of alcohol - a bigger pay packet. Economists over the last 20 years have noted that alcohol consumers earn more money than teetotallers, usually between 7-10% more. A recent study showed that full-time female workers earned 23% more than female abstainers, and full-time male workers earned 19% more than male abstainers. All those government health programs promoting the avoidance of alcohol may not be good for the economy.

2 comments:

Matt Hern said...

Ah ha! Brilliant news Glenn. I will add this as a recommendation to my financial advisory clients: "Drink More so that you can Earn More then you can Spend More!"

Keep up the entertaining & wise insights.

Matt Hern
The Financial Futurist

Rachel said...

hahah good twist. coming from an apd i wouldnt expect such a statement. i guess thats why ur a star in the media. u look at things with consumer interest in mind. good on ya!