The $6.9 Million Man | Woman
July 10, 2008 10:48 PM Subscribe
posted by ericb (31 comments total)
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"It's not just the American dollar that's losing value. The Environmental Protection Agency has decided that an American life isn't worth what it used to be. The value of a statistical life
is $6.9 million in today's dollars, the [EPA] reckoned in May -- a drop of nearly $1 million from just five years ago."
"Though it may seem like a harmless bureaucratic recalculation, the devaluation has real consequences. When drawing up regulations, government agencies put a value on human life
and then weigh the costs versus the lifesaving benefits of a proposed rule. The less a life is worth to the government, the less the need for a regulation, such as tighter restrictions on pollution."
Related: "The Value of Life: Estimates with Risks by Occupation and Industry