How much is your life worth? The government has an answer -- actually, several answers -- for that.
As The New York Times reports, federal agencies trying to remake the government's vast regulatory system are grappling with a subject that is more the province of poets and philosophers than bureaucrats: What is the value of a human life?
Federal agencies, such as the Transportation Department, put a value on human life to determine how much to spend to prevent a single death.The government needs to know so it can determine how much it should spend to prevent a single death. The cost-benefit analysis varies by agency and has raised the hackles of business while drawing praise from unions, environmentalists and consumer groups.
The Times reported Wednesday that the price put on a single life has gone up since President Barack Obama took office. The Environmental Protection Agency, for example, set the value of a life at $9.1 million last year in its proposal to tighten restrictions on air pollution. Life was worth as little as $6.8 million during the George W. Bush administration.
Industry representatives, the Times reported, argued that putting a price on a life was inherently subjective, and that the recent changes were driven by the administration's pursuit of its regulatory agenda rather than scientific considerations.
Link: http://www.aolnews.com/2011/02/17/obama-administration-boosts-price-tag-on-human-life/
As The New York Times reports, federal agencies trying to remake the government's vast regulatory system are grappling with a subject that is more the province of poets and philosophers than bureaucrats: What is the value of a human life?
Federal agencies, such as the Transportation Department, put a value on human life to determine how much to spend to prevent a single death.The government needs to know so it can determine how much it should spend to prevent a single death. The cost-benefit analysis varies by agency and has raised the hackles of business while drawing praise from unions, environmentalists and consumer groups.
The Times reported Wednesday that the price put on a single life has gone up since President Barack Obama took office. The Environmental Protection Agency, for example, set the value of a life at $9.1 million last year in its proposal to tighten restrictions on air pollution. Life was worth as little as $6.8 million during the George W. Bush administration.
Industry representatives, the Times reported, argued that putting a price on a life was inherently subjective, and that the recent changes were driven by the administration's pursuit of its regulatory agenda rather than scientific considerations.
Link: http://www.aolnews.com/2011/02/17/obama-administration-boosts-price-tag-on-human-life/
