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Priceless: On Knowing the Price of Everything and the Value of Nothing

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If someone tells you that a regulation will cost $100 million but produce only $50 million in benefits, you'd probably think it was a good example of government bureaucrats running amok. But what if you then found out that what the regulation would really do was force polluters to cut emissions in order to prevent thousands of cases of life-threatening illness over the next three decades? And that the $50 million benefits "pricetag" was developed by a bunch of green-eyeshade types who regard each life as worth about $3 million, and who then use a statistical trick to make 87% of that value disappear?
Ackerman and Heinzerling have written a brilliant and scary book that lays out in chilling detail just how widely such techniques are now being used in making decisions about when to adopt health and environmental safeguards - and when NOT to. They also reveal that many of the horror stories repeatedly trotted out by critics of environmental and health standards NEVER ACTUALLY HAPPENED.
The authors' prose is engaging and their arguments are compelling. Essential reading for anyone who cares about health and the environment - and who thinks that industry shouldn't be blindly trusted to do the right thing in safeguarding them.

This book will truly open your eyes. This book presents a rare chance to peak behind the curtain and see how our government goes about making life and death decisions.