Sermon for Williamstown Uniting Church
17th of February, 2019
Luke 6:17-26
Do you know how much your life is worth? How about the lives of those you love? It’s a ridiculous question, of course; it should be impossible to put a price on a human life. I discovered recently in an article written by Richard Dennisss, the chief economist at the Australia Institute, that the federal government knows exactly how much an Australia life is worth. It is 4.5 million dollars. If you die prematurely, then each year of forgone life is worth $195,000. It’s fascinating – I went to check the advice that Denniss quoted in his article and found it freely available: a three-page document from December 2014 called ‘Best Practice Regulation Guidance Note: Value of statistical life’. The note says that, ‘A number of regulatory proposals are aimed at reducing the risk of physical harm, for example, occupational health and safety laws, warning labels on tobacco products and transport safety measures such as seat belt laws’. In order to work out whether they are worthwhile, public servants need to determine whether the value of the lives saved is greater than the amount spent to reduce the harm. Future lives are considered to be worth less than present lives. It’s considered more beneficial to save three lives now rather than five lives in eight years’ time – the note has a table showing that. I might not have believed Denniss if I hadn’t seen it for myself. Continue reading
