Is health a good investment?

Should we tax junk food? After all, don't people who eat junk food burden society with their extra welfare cost? And isn't that even more true in countries where health care is either partially or fully funded via a government program?

Maybe, but maybe not. In fact, perhaps it is the government health plan that creates incentive to eat too much. The fact is, if you live in a country where your health care is paid for, a healthy lifestyle pays less than it does in a country where your health care is not paid for. That is, health less of a good investment.

Certainly in Japan, where people still have some healthy eating habits, the situation has gradually been deteriorating. At least, I've assumed that's the case simply by watching changing eating habits in the last 15 years. I'm not sure if I am statistically correct though. (I'll have to look into this.)

In any event, here's a great article on this topic at mises.org, Junk Food, Taxes, and the Market Solution.