What Is The Value Of A Life? Business Week magazine reports that economists estimate how many lives are saved by a particular government regulation, and then compare that with the cost of implementing the new rule. Here are some results: It costs $3,000 to save one life (with the regulation of labels showing the trans-fat content of foods), $300,000 to save one life (from the added insulation for airplane cabins to protect against fire), $500,000 to save one life (from the state seat belt laws as condition for federal aid) and $2,200,000 to save one life (from the regulation for flame-retardant children’s sleepwear). (Business Week 9/15/03)
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