The US Environmental Protection Agency values a human life at over $9 million, while the Food and Drug Administration and Department of Transportation have lower values. Statisticians consider various factors when determining a person’s worth, and insurance companies often set a limit of $50,000 for a year of “quality life.” The average trafficked human costs $90.
The United States Environmental Protection Agency has determined that the value of a human life exceeds 9 million US dollars (USD). Similarly, the U.S. Food and Drug Administration has valued human life at about $8 million dollars, and the U.S. Department of Transportation has lowered its level to about $6 million dollars.
More facts about the value of a lifetime:
Estimates of the “value of life” are commonly made in statistics and a number of criteria are used. For example, when they come up with the value of a “Consumption Unit” (CU) – that is, a person’s worth – statisticians consider everything from age to household income to how people are educated.
Globally, insurance companies also have their value on living standards. Generally, when considering whether to cover a new treatment, they decide on whether the treatment will provide a year of “quality life” for $50,000 USD or less. This is troubling for some economists who have calculated that at least $129,000 USD is needed to have one year of “quality life”.
To put these values into perspective, the average trafficked human costs about $90 USD.
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