US Agencies Raise Value of Life by Millions of Dollars, Justifying Tougher Regs
In the last few years, several U.S. agencies have raised the value of human life by millions of dollars, a calculation that justifies tougher regulations in a cost-benefit analysis.
The New York Times lists the higher values. The Environmental Protection Agency set the value of human life at $9.1 million last year, compared to a value as low as $6.8 million during the last Bush administration, in proposing more air pollution restrictions. The Food and Drug Administration set the value of life at $7.9 million last year, compared to $5 million in 2008, in proposing new cigarette warning labels. The Transportation Department used a value of $6.1 million, compared to the old standard of $3.5 million, to propose increased roof strength in new vehicles.
Critics say the changes appear to be part of a drive to increase regulations. Some wonder why different agencies are allowed to use different numbers. Consumer groups praise the higher values, although they dislike cost-benefit analyses, the Times reports. Said Robert Weissman, president of Public Citizen, “How do you do cost-benefit analysis on global warming?”
