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The government thinks $10M per life is about the right number on the margin given US's economic situation and the slack they have in the annual budget. Obvious
by sandoooo 6y ago
The government thinks $10M per life is about the right number on the margin given US's economic situation and the slack they have in the annual budget. Obviously if there's a nuclear war tomorrow, or something else that drastically changes either the money supply or the number of people who need saving, the exchange rate would be different.
Realistically I think the value should be a lot lower, considering there are many interventions you could do that saves more than 1 life per $10M, even if we confine calculations to the US. (World-wide the marginal cost of a life is probably less than $10k). Of course you have to also take into consideration what is politically and organizationally feasible, so perhaps $10M is the government's marginal cost of a life considering its set of permissible policies.
...Or maybe somebody just pulled a number out of a hat to justify an expensive piece of legislation in the 80's, and nobody's bothered to update the number since.
- pyuser583 6y agoThis is the thing - it’s likely the exact value for a human life varies dramatically depending on the context. That’s because they’re not usually attempting to assign a value to human lives in any abstract sense.