Article Review: Value of Human Life

This case study presents an article review focusing on the value of human life as perceived by U.S. agencies and the subsequent impact on businesses. The article discusses how government regulations aimed at saving lives, such as controlling air pollution and strengthening car roofs, require efforts from businesses. It emphasizes the importance of healthy human lives and the involvement of the business community in this move. The review also identifies two key economic concepts: social welfare, which is affected by policy changes, and resources, which are used in production. The article suggests that businesses should embrace these changes to enhance their goodwill and sustainability.

Article Review
Name of the article: As U.S. Agencies Put More Value on a Life, Businesses Fret
The writer of the article asks the question that the nation is remaking its regulatory system but what is
the value of human life in it? The spending of the government to save the single life determines that
how much value is place d on the life of humans by the government. For this, various efforts needs to be
put like the sir pollution needs to be controlled, the packets of cigarettes must have a picture of cancer
victims, the roofs on the cars are required to be stronger etc. All this requires efforts by the various
business organizations. But, in addition to their support, the regulation is also required to be stringent.
From this article, it can be analyzed that the importance of healthy human lives is emphasis by the
nation and its agencies. They are heading towards a correct move and they are involving the entire
business community in this. This will definitely bring a change in the human lives. Also, the businesses
must understand that they should be a part of this move as it will increase their goodwill in the eyes of
customers and they will become sustainable organizations.
The two of the economic concepts used here are social welfare and resources. When the change in
policies affects the well-being of society, it is called social welfare (the change in regulation in the nation
is a move towards social welfare) and the inputs used for producing goods is called resources (the
resources that the business community will use in making the air clean).

Reference:
http://www.nytimes.com/2011/02/17/business/economy/17regulation.html?_r=2&hp