I have previously mentioned the risks and so if it was me then I will try to explain risks in objective rather than emotive way.
A history of allergies/excema often runs in families and I understood that breastfeeding protected against allergies DURING the weaning period when you are introducing the new foods whereas you would have stopped before weaning or just as weaning is about to start.
I am reading a book called Sucessful Breastfeeding by the Royal College of Midwives. It is very informative. In brief the issues around formula feeding are:
Composition, Formula is composed differently, Formula has less calories, more protein, less fat and varying levels of carbohydrate. Higer levels of protein in formula have been linked to increased allergies and a 1.5 - 2% increased risk of developing insulin dependent diabetes. There are also vitamins, minernals and other trace elements available in breastmilk which are unavailable in formula milk. For example 70% of available Iron is absorbed in breastmilk but only 10% in formula.
Errors in manufacture and preparation leading to bacteria or other contamination.
Controlling intake, Breastfed babies can control their intake whereas mothers control bottlefeeding.
Protection against viral, parasitic and bacterial pathogens.
Breastmilk has loads of enzymes, anti-iflammatory agents and growth factors not present in formula.
Bottle feeding has been associated with:-
Increased risk of
gastrointestinal problem(5 times more commom)
respiratory problems
ear infections (3-5 times more common)
urinary infections, necrotising entercolitis,
atopic disease in families with a history
increased risk of SIDS and diabetes
reduced cognitive development
decreased visual acuity
reduced IQ
....for babies
For mums the risk of not breastfeeding means more than doubling the risk of osteoportic hip fracture and increased risk of breastcancer.
Also while a baby feeds for 6 feeds per day your periods are unlikely to return and therefore a woman is more likely to conserve iron and have free contraception.
In terms of the economics, the costs of the NHS of extra admissions, visits to GP and prescriptions has been quantified, if 300 UK towns acheived breastfeeding rates of 90-95% as in Norway or Finland the National Health Service would save £67 million per year.
It's up to you though, risks are risks not certainity, after all we all know some smokers who live to 90 but others who haven't been as lucky!