May
30
2008

How much is your life worth?

How much is your life worth? In dollars and cents?: Or, to put it another way, how much would you pay for an extra ten years of healthy life?
How much is your life worth? In dollars and cents?: Or, to put it another way, how much would you pay for an extra ten years of healthy life?Courtesy Tracy O

Gosh, how long has it been since I’ve pulled out the old “there’s a reason they call economics ‘the dismal science’” trope? Must have been a good 15, maybe 20 minutes. Well, here it is again. How much would you be willing to pay to live a longer, healthier life? In order to answer the question, you have to put a dollar value on your life. How much is ten years’ of healthy life worth? The "fight aging!" blog discusses the situation in cold, hard terms of dollars and cents – a new therapy might add ten healthy years to your life, but if it cost more than those years were worth, would anybody still get it? What if it came down in price, but only the richest people could afford it? And how long would it take before it became affordable to everyone?

Putting dollar value on human life – man, those economist be whack!

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