Markets and Mortality: Economics, Dangerous Work, and the Value of Human Life

by Peter Dorman

Overview

This book provides a critical survey of conventional economic approaches to occupational safety and the analysis of environmental risk in general. The author concludes that unsafe work is not voluntary, that markets do not compensate workers for risk, and that attempts to put a monetary value on life and health are futile. He attributes the shortcomings of economic orthodoxy to its underlying approach to human decision-making and social interaction, and demonstrates that useful alternative approaches are available. The analysis is used to identify policies that combine effective regulation with democratic values.

Product Details

ISBN-13:	9780521553063
Publisher:	Cambridge University Press
Publication date:	02/23/1996
Edition description:	New Edition
Pages:	288
Product dimensions:	6.34(w) x 9.29(h) x 0.91(d)

Table of Contents

1. The economics of risk and the risk of economics; 2. The theory of compensating wage differentials; 3. Putting a value on human life; 4. The real world of occupational safety and health; 5. Alternative theories of risk, wages, and the labour market; 6. New policies to promote safety and equity in the workplace.

Editorial Reviews

"Peter Dorman presents a provocative challenge to the majority view. The arguments and evidence will convince many who have no research investments in CW or value of life estimates that the majority view is wrong....A number of tantalizing facts and stories greet the reader throughout the book....The book crackles with creative writing....The arguments and evidence are sound and thought-provoking. The book should be ‘required reading' among policy-makers and economists involved in OAH issues." Industrial and Labor Relations Review

"...readers who want to see a review of the literature filtered through thid critical perspective will find this the most comprehensive book of its type." Joni Hersch,Journal of Economic Literature

"This clearly written and provocative book provides a much-needed counterpoint to the influential books by W. Kip Viscusi, that present the neoclassical economic view." J.P. Jacobsen, Choice

"...Markets and Mortality is invaluable for bringing sound critical insight and institutional detail to the study of worker safety and the related issues of the value of life....The book should be required reading for anyone interested in value-of-life issues or in workplace relations." Roger A. McCain, Eastern Economic Journal

"In this well-written and tightly reasoned book, Peter Dorman sets out to destroy the traditional theory of compensating wage differentials. ...Dorman has written a book that deserves to read and discussed." Chuck Skoro and R. Larry Reynolds, Review of Social Economy

From the Publisher