The Invaluable Insight of Economics with Regards to Risk Management

[visiblemarket]

"All deaths are bad. But some deaths seem worse than others."

You don't say, Cass R. Sunstein. You don't say.

Comments

[hermione_vader]

...That sounds like it belongs on my "365 Stupidest Quotes" calendar.

Does Cass R. Sunstein give an economic formula for determining "worse deaths?"

[visiblemarket]

*laughs* No, he's just talking about how some people will pay more to prevent certain deaths (ie, cancer) over others (ie, dying of old age surrounded by fat grandchildren). But it was still a pretty hilariously obvious thing to say.

[gingerberrysnap]

Dude, I didn't even take it the way you described to hermione_vader. I thought he was saying it's always bad when someone dies, but some deaths are less significant. But yeah, what you translated it as is really dumb.

[visiblemarket]

Oh, yours is actually an element too. The value of some lives (ie, old people) are worth less than those of other people (ie, children), based on how many productive years are left to them.