"Your money or your life." The choice traditionally presented by the highwayman(拦路强盗) is supposed to have only one sensible answer. Money is, after all, no use to a corpse. Yet economists often study something rather like the highwayman's offer in an attempt to uncover the answer to an important question: how much is your life actually worth?
Like many awkward(尴尬的) questions, this is one that has to be answered. Safety regulations save lives but also raise the cost of doing business, a cost we all pay through higher prices. Are they worth it? Our taxes pay for life-saving spending on road safety and fire fighting. Are they high enough, or too high?
So how much are we willing to spend to save a life? A traditional planner's approach used to be to measure the value of wages lost due to death or injury. That's dreadful: it confuses what I think my life is worth with what my boss thinks my life is worth.
So an alternative is to ask people how much they would pay for a safer car or kitchen cleaner. But such surveys do not always produce sensible results. Our answers depend on whether we're being offered a safer? 10 household cleaner and then asked if we want the more dangerous? 5 version, or whether we're offered the? 5 brand and then asked if we'll pay? 10 for the safer product. People often answer "no" to both questions, contradicting themselves. These inconsistencies mean that we're either irrational or lying to pollsters, and perhaps both.
Economists therefore tend to prefer observing real choices. More orthodox(正统的) approaches look at career choices: if you're willing to be a lumberjack(伐木工人), part of that decision is to accept risk in exchange for financial reward.
全面深化改革 Comprehensively deepening reform
“高铁抽烟”将严惩
新土改鼓励“规模化耕作”
韩国成“购物新宠”
星巴克“遭抨击”
中印“边防合作协议”
“失独家庭”补助提高
春节前交管部门将开展“安全大检查”
台风“天兔”
湖南严查“破坏选举”案
北京高考英语“减分”
百度“在线理财产品”
全面深化“农村改革”
阿里巴巴将进军中国“大后方”
政府改革 government reform
澳门官员“申报个人财产”
用好“批评和自我批评”的武器
首条“跨省地铁”开通
国企改革:“产权多元化”
苏州“旅游地图”发布
治理“公车腐败”
记者因“损害商业信誉”被拘
“国家级新区”改革促进政府“职能转变”
中国未出现大面积“房地产泡沫”
债务展期 debt extension
上海“自由贸易试验区”将挂牌
新土改或促进“农地流转”
恒大“亚冠”夺冠
“厨房废气”成空气治理新焦点
什么是“负面清单管理”?
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