It was interesting that WSJ published an article about the estimated cost of heavy drinking to be at $220 billion annually based on lost productivity, health care cost and the added criminal activities. It also stated that based on the 2006 survey and numbers, the cost translates to $1.96 per drink! Knowing an alcoholic first hand, I know for a fact that the non numeric facts are quite accurate if not more, and as for the $ amount data, I trust it to be somewhat true as well.
Since we are talking about cost, I have to talk about the flip side of the balance sheet which is the revenue to make the argument worth while, at least for the accountant in me. And I am wondering how much revenue does the hard liquor generate on an annual basis? How many jobs does it produce? From farming to making the booze, from glass manufacturers to bottling the drink plants and delivering it, from distributing from the wholesaler to the stores and the bars and last but not the list from the marketing to fancy advertisements, how much money each industry makes and how many people have they employed?
No beer company is complaining about tough economic time, WSJ advertises the various brands of Vodka that enter the market consistently. Every state, county and city within US has started it's own winery and promotes its own wine. This is one commodity that is recession proof, not only people do not stop buying them, but in tough times, they even buy more.
If the cost of one drink to the society is $1.96, the price of a drink in a happy hour is about $5 a drink for the consumer. One does not need to be an accountant to see the picture. I salute WSJ for publishing the article and raising the society's awareness of issues that have not only monetary cost, but social ones embedded in them, but the fact remains that as far as there is a demand then there will always be enough booze around for the consumption of the drinkers and for the benefit of employment and booze industry.
Cheers !!
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