lectur8-page8 - O.K I know this his “cold hearted.”...

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“Emotional Overcoat” u Abortion u Government subsidized abortion for low income females How much does an abortion cost if the procedure is done in the first trimester of pregnancy? $1,000? Now rustle back in your notes and look up how much it cost on average to raise a child from birth to 18 years of age within a low income family in 1999. If the estimate is not adjusted for inflation, you should have found a figure of $117,390. If adjusted for inflation, using 4.3% annual inflation, the figure is $174,090. If the family is on public assistance, then we are looking at tax payer dollars being primarily used to support this child. Look at the two figures for a moment, consider the probabilities. Note, I did not say possibilities, I said probabilities. Which is a less expensive alternative for society in terms of monetary resources?
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Unformatted text preview: O.K., I know this his “cold hearted.” Some folks that have not removed their emotional overcoat probably want to start throwing things at me and call me all sorts of names and maybe even threaten me. Please remember what the purpose of this example is. Now that we have looked at this issue without our emotional overcoats, we now put our emotional overcoats back on, and make a decision, a choice that you are comfortable with, that you can live with, that you can sleep with etc. In doing so, you are now starting to impute a value on your emotional overcoat. I, nor can any economist, place a value on your emotional overcoat. Only you can determine what it is worth to you and what you are willing to “pay” to live by its virtues....
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