DRI-270 for week of 10-6-1: How is Job Safety Produced? | Utopia, you are standing in it!

DRI-270 for week of 10-6-1: How is Job Safety Produced?

15 Jun 2015 Leave a comment

by Jim Rose in health and safety, labour economics Tags: compensating differentials, The Great Escape

This an excellent summary

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DRI for 10-6-13

An Access Advertising EconBrief:

How is Job Safety Produced?

The best-selling book on economics in the 20^th century was probably Free to Choose, the 1980 defense of free markets by Milton and Rose Friedman. It contained a chapter entitled, “Who Protects the Worker?” In it, the authors highlighted the tremendous improvement in the working conditions and living standards of workers from the Industrial Revolution onward. What, they inquired rhetorically, accounted for this? The Friedmans suggested “labor unions” and “government” as the likely top two answers to any poll taken on this subject.

One of the nation’s leading experts on the subject of risk and safety is W. Kip Viscusi, long an economics professor at Harvard, Duke and Vanderbilt universities and now affiliated with the Independent Institute. In an essay on “Job Safety” for the Fortune Encyclopedia of Economics, Viscusi wrote: “Many people believe that employers do not…

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