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Fri Mar 31 17:18:39 2006 |
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----------------- HES POSTING -----------------
[Posted on behalf of Evelyn Forget. - RBE]
Does anyone know when and how the idea that human lives can be given an
economic value originated? Am I correct in supposing that, before the
twentieth century, this happened in only two contexts: slavery (where a
market valuation emerged), and legal compensation for wrongful death which,
at least in medieval Europe, was based on a static concept of social
status,
rather than any kind of economic productivity?
When did valuation based on \"willingness to pay\" (for life-saving
technology, for example) or the premium demanded to undertake risky jobs
begin to supplant the idea that a life was worth the capitalized value of
expected future earnings? Is there a good survey article on this issue?
Thanks for any help.
Evelyn L. Forget
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