With the price of gas and food skyrocketing, you’d think it’d be nice to hear about something going down in cost. Well, yeah—if that “something” wasn’t us.
The Environmental Protection Agency tells us we’re worth $6.9 million now—about $900,000 less than in 2003. The stat is tied to environmental regulations: The more a life is worth, the more likely the government will demand companies implement highcost, life-saving regulations.
“Consider, for example, a hypothetical regulation that costs $18 billion to enforce but will prevent 2,500 deaths,” explains an Associated Press story. “At $7.8 million per person … 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.”
“It’s our best estimate of what consumers are willing to pay to reduce similar risks to their own lives,” says Al McGartland, director of the EPA’s office of policy.
(Associated Press)
