How do we value a statistical life?
Tim Harford: It's clear that we should be willing to pay huge costs to save lives. The question of whether we should value life over livelihoods has surprisingly gained some traction in many debates around the world, as the coronavirus pandemic continues to unfold. For the renowned economist Tim Harford, however, the answer is very clear. Writing in his weekly column for the Financial Times, he takes a closer look.
From Financial Times