What are 'illth' in economic terms?

In economic terms, "illth" refers specifically to goods and services that are detrimental or harmful to consumers and society as a whole. The term contrasts with "wealth," which represents resources that have a positive impact and contribute to well-being. Illth can encompass a range of negative externalities such as pollution, poor-quality products, or services that exploit consumers or degrade community well-being. The concept sheds light on how certain economic activities might generate profit but also cause harm, highlighting the need for ethical considerations in economic practices and consumer choices. Recognizing illth helps inform discussions about regulatory practices and the overall health of an economy, focusing on the importance of assessing not just the financial aspects but also the social and environmental consequences of economic activities.