Wednesday, March 26

Iain Murray, $6.1 Million Men, on cost/benefit analysis, points out that the Environmental Protection Agency values each human life at $6.1 million, but
one consideration is saving lives, the public sector therefore has to come up with a figure that it can use to assess the economic value of a life. This is a difficult thing to do, but one way to do it is to assess how much economic activity an individual will undertake in his or her life - how much income will they earn, how much will they spend or invest and so on? This is generally the approach used in transportation economics and the standard value used by the U.S. Department of Transportation is $2.7 million.
Funny comments, too. Some people just don't get it.

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