Putting a price tag on a person’s life could make America safer and fairer

Economist explains how society’s undervaluing of life puts all of us at risk NASHVILLE, Tenn. — What is the monetary value of a person’s life? Vanderbilt economist W. Kip Viscusi says putting a price tag on the value of a person’s life makes people and products safer. Viscusi defines the “value of a statistical life” or VSL as the dollar amount that people are willing to pay to avoid an expected death tied to a faulty product or job-related accident. His current estimate of the value of a statistical life is $10 million. In a new book, Pricing Lives, Guideposts for a Safer Society, Viscusi explains how he pioneered the VSL and provides a comprehensive look at all aspects of economic and policy efforts to price lives. COST OF DEATH We all know that most products are not ris

It's only fair to share...Tweet about this on TwitterShare on FacebookShare on TumblrShare on Google+Digg thisShare on LinkedInPin on PinterestShare on VKShare on RedditPrint this pageEmail this to someone
Flattr the authorShare on StumbleUponShare on YummlyBuffer this page

Leave a Reply

Your email address will not be published. Required fields are marked *