Is an Australian life still worth AUD 4.2 Million? Forced shuttering of businesses, massive job losses, loss of wealth implies life is now worth less; Morrison Govt duty bound to ask taxpayers first before spending another cent on its Wuhan Virus stimulus
Ganesh Sahathevan Even the ABC is worried that things have changed forever An Australian life is worth $4.2 Million. That is the value of a statistical life, or the offical rate that guides Government policy in for example, the cost of the stimulus and other measures that the Morrison Government is implementing to manage the economic impact of its Wuhan Virus/Covid-19 mitigation measures. The concept is summarised on the Commonwealth Department Of Prime Minister And Cabinet website: Key Points: • Willingness to pay is the appropriate way to estimate the value of reductions in the risk of physical harm – known as the value of statistical life. • Based on inte...