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What are we worth?
Author: BobR Date: 07/11/2008 12:12:23

What is a person worth? Can you put a dollar figure on that? Should you put a dollar figure on that? Who decides and what criteria do they use?

Amid all the hoopla yesterday, a seemingly innocuous story slid beneath the radar. The more I read of it, however, the more it bothered me. Apparently, the EPA does just that, and recently devalued what a human life is worth:

It's not just the American dollar that's losing value. A government 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 Environmental Protection Agency reckoned in May — a drop of nearly $1 million from just five years ago.

The Associated Press discovered the change after a review of cost-benefit analyses over more than a dozen years.

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.

Consider, for example, a hypothetical regulation that costs $18 billion to enforce but will prevent 2,500 deaths. At $7.8 million per person (the old figure), the lifesaving benefits outweigh the costs. But at $6.9 million per person, the rule costs more than the lives it saves, so it may not be adopted.

I don't know what's more disturbing:

That the EPA is doing the calculations at all

That the value has dropped

That the value affects whether regulations are even enacted

Sure I know about Actuarial Science and how private insurance companies use it to set insurance premium numbers. But a government agency doing a calculation to determine whether a regulation that may save lives is "worth it"? It boggles the mind.

The article goes on to provide a little detail as to how the value is calculated, and why it's gone down:

... economists calculate the value based on what people are willing to pay to avoid certain risks, and on how much extra employers pay their workers to take on additional risks. Most of the data is drawn from payroll statistics; some comes from opinion surveys. According to the EPA, people shouldn't think of the number as a price tag on a life.

The EPA made the changes in two steps. First, in 2004, the agency cut the estimated value of a life by 8 percent. Then, in a rule governing train and boat air pollution this May, the agency took away the normal adjustment for one year's inflation. Between the two changes, the value of a life fell 11 percent, based on today's dollar

So the EPA thinks we shouldn't think of it as a "price tag on a life", yet that's exactly what it is. And apparently - unlike everything else - the price is not inflation-adjusted.

The other notable factoid is that the government's value is keyed to employers' perceptions as to their employees' worth. To me, this seems like yet another step towards Corporatism. (Side Note: If the latest G8 Summit is any indication, rampant corporatism and its control over environmental protections is a worldwide problem.)

But hey - at least we're worth more than people in other countries, right? If we divide the cost of the war in Iraq by the number of Iraqis killed in the conflict, we can determine that an Iraqi life is worth about $43K.

Wow - that's practically a steal.

276 comments (Latest Comment: 07/12/2008 13:34:36 by m-hadley)
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Comment by

capt on 07/11/2008 12:28:34

We do better and are of more value in euro's.

Comment by

wickedpam on 07/11/2008 12:32:59

Morning

:hug:

Comment by

capt on 07/11/2008 12:52:00

Good Morning!

Comment by

BobR on 07/11/2008 12:58:30

guten morgen... :coffee:

Comment by

TriSec on 07/11/2008 13:04:00

6.9 million, eh?

Here's a thought. At birth, everyone gets 6.9 million dollars. When you spend the last one, you're hauled off and shot. No exceptions.

Anyway, I digress.

Morning, comrades!

Comment by

capt on 07/11/2008 13:09:41

I hear you can cash out in small amounts by giving blood - it might end up a deduction in the end but . . . .

Comment by

velveeta jones on 07/11/2008 13:11:00

Good morning all! Happy Frydee!

What does one wear to a rendition? Hmmmm:

http://i135.photobucket.com/albums/q151/velveeta_jones/Misc%20photos/snorkelguy.jpg

Comment by

Raine on 07/11/2008 13:12:08

Wow, BobR... sad, and disturbing story today. :(

Comment by

Raine on 07/11/2008 13:14:51

Quote by velveeta jones:

Good morning all! Happy Frydee!

What does one wear to a rendition? Hmmmm:

hey know...

I would LOVE to wear that!

Comment by

capt on 07/11/2008 13:19:35

Quote by velveeta jones:

Good morning all! Happy Frydee!

What does one wear to a rendition? Hmmmm:

How did you'all get a picture of me?

:lol:

Comment by

wickedpam on 07/11/2008 13:20:04

Ummmm - yeah - not going to get into the whole "speak the language of the country you live in" discussion.....

Comment by

Raine on 07/11/2008 13:20:57

So has anyone figured out where KKKarl is???

Comment by

Scoopster on 07/11/2008 13:22:22

Sound the heralds! It is he who is I am! :banana:

And I bring "grave news" today..

Comment by

capt on 07/11/2008 13:26:03

Quote by Scoopster:

Sound the heralds! It is he who is I am! :banana:

And I bring "grave news" today..

Morbid humor. . .

Comment by

velveeta jones on 07/11/2008 13:28:06

Quote by Scoopster:

Sound the heralds! It is he who is I am! :banana:

And I bring "grave news" today..

:blink: YIKES. Seems rather sad to have to actually make a LAW banning sex with corpse's.

Comment by

Raine on 07/11/2008 13:28:19

Quote by capt:

Quote by Scoopster:

Sound the heralds! It is he who is I am! :banana:

And I bring "grave news" today..

Morbid humor. . .

Just in time for the RNC convention... Awww... bummer :kickcan:

Comment by

capt on 07/11/2008 13:30:11

Quote by velveeta jones:

Quote by Scoopster:

Sound the heralds! It is he who is I am! :banana:

And I bring "grave news" today..

:blink: YIKES. Seems rather sad to have to actually make a LAW banning sex with corpse's.

Especially for necrophiliacs!!

Comment by

starling310 on 07/11/2008 13:32:13

Quote by TriSec:

6.9 million, eh?

Here's a thought. At birth, everyone gets 6.9 million dollars. When you spend the last one, you're hauled off and shot. No exceptions.

Anyway, I digress.

Morning, comrades!

That is a fantastic idea!

Can we institute that plan retroactively?

I would gladly accept $11,308 less than 6.9 M. . . a dollar for every day I have been alive thus far.

Comment by

TriSec on 07/11/2008 13:32:30

Trouble for McCain in his own backyard

Comment by

Scoopster on 07/11/2008 13:32:40

Quote by Raine:

Quote by capt:

Quote by Scoopster:

Sound the heralds! It is he who is I am! :banana:

And I bring "grave news" today..

Morbid humor. . .
Just in time for the RNC convention... Awww... bummer :kickcan:

Ah this wouldn't affect them too much.. Reagan's buried in California.

Comment by

velveeta jones on 07/11/2008 13:34:41

Quote by TriSec:

Trouble for McCain in his own backyard

Ahhhh, poor Johnny!

:D

Comment by

wickedpam on 07/11/2008 13:35:38

Quote by starling310:

Quote by TriSec:

6.9 million, eh?

Here's a thought. At birth, everyone gets 6.9 million dollars. When you spend the last one, you're hauled off and shot. No exceptions.

Anyway, I digress.

Morning, comrades!

That is a fantastic idea!

Can we institute that plan retroactively?

I would gladly accept $11,308 less than 6.9 M. . . a dollar for every day I have been alive thus far.

6.9 mill won't last that long. I suspect some people will run to Santuary.

Comment by

BobR on 07/11/2008 13:36:02

Quote by capt:

Especially for necrophiliacs!!

I love the dead before they rise,

No farewells, no goodbyes,

I never even knew your now rotting face.

While friends and lovers mourn your silly grave,

I have other uses for you, darling.

I love the dead before they're cold,

Their blueing flesh for me to hold,

Cadaver eyes upon me see....

nothing.

-Alice Cooper

Comment by

starling310 on 07/11/2008 13:39:56

Quote by wickedpam:

Quote by starling310:

Quote by TriSec:

6.9 million, eh?

Here's a thought. At birth, everyone gets 6.9 million dollars. When you spend the last one, you're hauled off and shot. No exceptions.

Anyway, I digress.

Morning, comrades!

That is a fantastic idea!

Can we institute that plan retroactively?

I would gladly accept $11,308 less than 6.9 M. . . a dollar for every day I have been alive thus far.

6.9 mill won't last that long. I suspect some people will run to Santuary.

I think I could make 6.9 Million go a looooooooooooooooooooooooooo. . . . . . . *gasp* . . . ooooooooooooooooong way.

Comment by

starling310 on 07/11/2008 13:43:09

Bay is starting to sound like a Football coach.

Comment by

wickedpam on 07/11/2008 13:43:49

Quote by starling310:

Quote by wickedpam:

Quote by starling310:

Quote by TriSec:

6.9 million, eh?

Here's a thought. At birth, everyone gets 6.9 million dollars. When you spend the last one, you're hauled off and shot. No exceptions.

Anyway, I digress.

Morning, comrades!

That is a fantastic idea!

Can we institute that plan retroactively?

I would gladly accept $11,308 less than 6.9 M. . . a dollar for every day I have been alive thus far.

6.9 mill won't last that long. I suspect some people will run to Santuary.

I think I could make 6.9 Million go a looooooooooooooooooooooooooo. . . . . . . *gasp* . . . ooooooooooooooooong way.

I could too. but there are people who are gonna spend it before they get out of their teens and gonna have to be draged to Carosel but by the Sandmen

Comment by

starling310 on 07/11/2008 13:44:24

I think he put on the Flag Pin because he got sick of Clap Traps like you, Sean, making a giant spectacle about it!

Comment by

Raine on 07/11/2008 13:45:27

pssst. John McCain still doesn't wear a flag pin...

Comment by

starling310 on 07/11/2008 13:45:58

Quote by wickedpam:

Quote by starling310:

Quote by wickedpam:

Quote by starling310:

Quote by TriSec:

6.9 million, eh?

Here's a thought. At birth, everyone gets 6.9 million dollars. When you spend the last one, you're hauled off and shot. No exceptions.

Anyway, I digress.

Morning, comrades!

That is a fantastic idea!

Can we institute that plan retroactively?

I would gladly accept $11,308 less than 6.9 M. . . a dollar for every day I have been alive thus far.

6.9 mill won't last that long. I suspect some people will run to Santuary.

I think I could make 6.9 Million go a looooooooooooooooooooooooooo. . . . . . . *gasp* . . . ooooooooooooooooong way.

I could too. but there are people who are gonna spend it before they get out of their teens and gonna have to be draged to Carosel but by the Sandmen

So be it.

Comment by

livingonli on 07/11/2008 13:47:38

Good morning all.

I wouldn't mind $6.9 million. At this point in my life, it would help a hell of a lot.

Just a quick hit and run since I have to drop my car off today to replace the mirror. Most of the door damage probably won't get fixed because it will cost too much and the money would be better spent on another car. I will talk to you all when I get back.

Comment by

Shane-O on 07/11/2008 13:51:07

Uh-oh - Chris got

on Steph's

...

What a mess

Comment by

Scoopster on 07/11/2008 13:51:46

Brilliant!

http://images.dailykos.com/images/user/3/pfizer_mccain_billboard.jpg

Comment by

Raine on 07/11/2008 13:52:24

Yes really... kkkarl is no en casa... I have been looking for ANYONE besides Raw Story that is reporting it.

Comment by

capt on 07/11/2008 13:56:13

An old friend of mine used to say:

"I know it is gay to actually suck another guy - but does it apply if you just roll it around in your mouth a little?"

*skates off to the penalty box*

Comment by

BobR on 07/11/2008 13:57:56

What's the point of creating a dish too spicy hot to even eat?

Comment by

wickedpam on 07/11/2008 13:59:05

I have a Figment - see he looks nothing like gas prices.

http://int.cysd.k12.pa.us/graybill/Fantasy/figment.gif

Comment by

starling310 on 07/11/2008 14:01:31

Quote by capt:

An old friend of mine used to say:

"I know it is gay to actually suck another guy - but does it apply if you just roll it around in your mouth a little?"

*skates off to the penalty box*

Oh dear. . .

Comment by

velveeta jones on 07/11/2008 14:02:11

Quote by capt:

An old friend of mine used to say:

"I know it is gay to actually suck another guy - but does it apply if you just roll it around in your mouth a little?"

*skates off to the penalty box*

Oh dear............

You'll be there awhile for that comment.

That's as bad as my gay boy friends t-shirt that sez: "Does this dick in my mouth make me look gay?"

:lol:

Oops........... (off I go to join him)

Comment by

capt on 07/11/2008 14:05:14

Quote by velveeta jones:

Quote by capt:

An old friend of mine used to say:

"I know it is gay to actually suck another guy - but does it apply if you just roll it around in your mouth a little?"

*skates off to the penalty box*

Oh dear............

You'll be there awhile for that comment.

That's as bad as my gay boy friends t-shirt that sez: "Does this dick in my mouth make me look gay?"

:lol:

Oops........... (off I go to join him)

I'm making some coffee - (senseo) Would you like Sumatra or Dark roast? The penalty box is going to get more comfortable. I'm there often enough to decorate a little. Here's a pillow to sit on.

Comment by

starling310 on 07/11/2008 14:09:01

It's an elaborate plan by the guy who owns the radio station to kill Momma for the insurance money.

Comment by

Raine on 07/11/2008 14:10:15

Momma driving a bus!!!

Comment by

velveeta jones on 07/11/2008 14:11:10

Le Yikes!!

I wonder how those kids turned out!

Comment by

capt on 07/11/2008 14:12:26

Quote by velveeta jones:

Le Yikes!! I wonder how those kids turned out!

Sadly, badly I fear . . .

Comment by

wickedpam on 07/11/2008 14:12:32

Yeah!

Comment by

velveeta jones on 07/11/2008 14:12:47

Quote by capt:

Quote by velveeta jones:

Quote by capt:

An old friend of mine used to say:

"I know it is gay to actually suck another guy - but does it apply if you just roll it around in your mouth a little?"

*skates off to the penalty box*

Oh dear............

You'll be there awhile for that comment.

That's as bad as my gay boy friends t-shirt that sez: "Does this dick in my mouth make me look gay?"

:lol:

Oops........... (off I go to join him)

I'm making some coffee - (senseo) Would you like Sumatra or Dark roast? The penalty box is going to get more comfortable. I'm there often enough to decorate a little. Here's a pillow to sit on.

thank capt! My Aunt Azalea has sent us some magazines to decorate the coffee table! I'll have the dark roast, please. Hm, cozy in here.

Comment by

Raine on 07/11/2008 14:12:53

WOOHOO!!!

Comment by

wickedpam on 07/11/2008 14:13:09

:rofl:

Comment by

starling310 on 07/11/2008 14:13:30

MGM!!!

Comment by

wickedpam on 07/11/2008 14:13:43

4F & MGM!

Comment by

velveeta jones on 07/11/2008 14:13:53

:clap:

SHANE-O.

I'm proud to know ya! (Well, sorta "know" ya).

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What are we worth?
Author: BobR Date: 07/11/2008 12:12:23

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What are we worth? Author: BobR Date: 07/11/2008 12:12:23

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What are we worth?
Author: BobR Date: 07/11/2008 12:12:23