Lec_22_health

Lec_22_health - Chapter 14: The Environment, Health, and...

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No class or section Friday Nov 25 Practice Final Exam A reviewed in next week’s sections Practice Final Exam B available on course web page Please be sure to participate in online CAPE evaluation of Professor Hamilton Chapter 14: The Environment, Health, and Safety A. The optimal amount of safety marginal benefit = marginal cost B. Workplace safety regulation question: do workers value safety improvements over higher wages? Theory: Firm wants to keep its labor costs low as possible Implication: If safety improvements cost less to firm than they are valued by workers, firm has incentive to make them Case study: Textile firms did not improve air quality until forced to do so by OSHA Source: http://divisionoflabour.com/archives/004409.php Henry Morgan’s articles for his pirates stipulated: • 600 pieces of eight for loss of right arm (= $20,000 at today’s silver price) • left arm– 500 pieces • right leg– 500 • left leg– 400 • one eye-- 100 Henry Morgan, 1635-1688 Chapter 14: The Environment,
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This note was uploaded on 03/02/2012 for the course ECON 2 taught by Professor Kim during the Fall '08 term at UCSD.

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Lec_22_health - Chapter 14: The Environment, Health, and...

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