Why a Life Needs a Price Tag

Although it seems callous, for safety regulation like speed limits and for victims’ compensation like 9/11 we need to quantify the value of a life.

The Cost of Seat Belts

Can we assume that seat belts make us safer? Maybe. Writing about seat belts in 1975, University of Chicago economist Sam Peltzman described what we now call the Peltzman Effect. Sam Peltzman said that yes, seat belts do make us…