What is the monetary value of a human life?. Issue 6103 (24th December 1977)

• Record Type: Journal Article
• Authors: Card, W I; Mooney, G H
• Is Part Of: BMJ. Volume 2:Issue 6103(1977)
• Page Start: 1627
• Page End: 1629
• Publication Date: 1977-12-24
• Subjects: Medicine -- Periodicals; Medicine -- Periodicals; Medicine; Periodicals; 610
• DOI: 10.1136/bmj.2.6103.1627
• Languages: English
• ISSNs: 0007-1447

Abstract

Abstract : The resources available to the health service are limited and so the amount the NHS can spend on saving human life is also limited. Rational allocation of resources requires a decision theory model, which in turn demands some monetary valuation of human life. Each of three approaches discussed--basing value on productive capacity, the NHS's implied values, or individuals' values--rests on an underlying set of non-monetary values. Choice of the underlying value will determine the method to be used in placing a monetary value on life. As the Health Service implicitly places certain values on life already, a means of making this valuation more rational and explicity can only improve the quality and quantity of health care.