What was the cost, in dollar terms, of the nine lives lost in the DC Metro crash on Monday? And how does that compare to what the cost would have been to prevent the accident, or lessen the severity of it? Should we do a cost-benefit analysis to determine the best policy?
Edward Tenner's post at the Atlantic looks at the absurdity of the proposition:
The disturbing truth is that even at the old, higher number, the loss of 9 human lives would not be grounds for replacement of the older model cars offering less survivability. Even if all nine casualties could have been spared, the $888 million estimate cost of replacing 1970s cars newer, safer models would have been almost $100 million per life, more than twelve times the pre-2008 $8.04 million statistical value of life used by the EPA.
This makes me think. In terms of economic efficiency, aren't Metro and most other public transportation systems arguably way too safe?
Well, you get the point.
Showing 2,817 results
Ben Somberg | June 25, 2009
What was the cost, in dollar terms, of the nine lives lost in the DC Metro crash on Monday? And how does that compare to what the cost would have been to prevent the accident, or lessen the severity of it? Should we do a cost-benefit analysis to determine the best policy? Edward Tenner's post […]
Victor Flatt | June 24, 2009
Last night, House Energy and Commerce Chair Henry Waxman announced that he had agreed with Agriculture Committee Chair Collin Peterson that the USDA could have jurisdiction over agricultural offsets in the massive American Clean Energy and Security Act, which the House may vote on this Friday. In agreeing to what had been one of the […]
Daniel Farber | June 23, 2009
Cross-posted by permission from Legal Planet. In an opinion by Justice Kennedy, the Supreme Court decided two issues in this case, over a dissent by Justice Ginsburg. The first was whether the Clean Air Act gives authority to the United States Army Corps of Engineers, or instead to the Environmental Protection Agency (EPA), to issue […]
Victor Flatt | June 23, 2009
Yesterday the Supreme Court ruled in Coeur Alaska, Inc. v. Southeast Alaska Conservation Council that the United States EPA and the Army Corps of Engineers could interpret the Clean Water Act to exempt water pollution sources from pollution control requirements if the pollution was accompanied by fill material. This legal feat was accomplished because the […]
Matt Shudtz | June 22, 2009
While his colleagues (and former colleagues) jockey for the healthcare reform limelight, Rep. Frank Pallone is quietly busy making sure that, regardless of who pays for healthcare, the sick and injured will have safe and effective solutions to their problems. Last Thursday, Rep. Pallone held a hearing to assess FDA’s ability to properly oversee the […]
Holly Doremus | June 19, 2009
Cross posted by permission from Legal Planet. Rick earlier posted about the 20th anniversary of the Exxon Valdez oil spill. This week, the Ninth Circuit may finally have brought the litigation that followed that spill to a close. You may recall that last year the U.S. Supreme Court heard Exxon’s challenge to the punitive damages […]
Ben Somberg | June 19, 2009
Andrew Freedman of washingtonpost.com’s Capital Weather Gang has a nifty catch: the Heartland Institute, the people cluttering up my newspaper this week with climate-change-denying ads, have officially changed tack on their lobbying policy. Back in March, the group told Freedman: “Our purpose is to bring scientists, economists, and policy experts together to address issues overlooked […]
Ben Somberg | June 18, 2009
Today CPR releases Reauthorizing the Chesapeake Bay Program: Exchanging Promises for Results (press release, full report). For years, the jurisdictions within the Chesapeake Bay watershed (the states and Washington D.C.) have essentially not faced consequences for failing to meet pollution-reduction targets. It’s not surprising that the Chesapeake Bay has languished. What the new CPR report […]
Alice Kaswan | June 17, 2009
The Waxman-Markey bill, in its current form, continues the nation’s wise respect for the complementary roles of the federal government and the states. By establishing a national cap and a national trading program, the bill would draw all states into the essential task of reducing greenhouse gas (GHG) emissions. But, like the federal environmental laws […]