Discussion on Papers 21–23

Professor P.J. HILLS and Professor M.W. JONES-LEE (Introduction to Paper 23): The report which we have presented to the World Bank - of which Paper 23 is a brief summary - is due to be produced in the Bank's Staff Working Paper Series

(ref. 1). It goes into the questions in considerably more detail than can the Paper. By way of introduction however, we should establish precisely why it is that we should seek to place a value on 'saving a life' - or, more accurately, on the postponement of death. The distinction is, of course, crucial to understanding the proper basis of valuing health and safety as a