He then forcefully argues against the rampant unfairness in the system. Howard Steven Friedman explains in simple terms how economists and data scientists at corporations, regulatory agencies, and insurance companies develop and use these price tags and points a spotlight at their logical flaws and limitations. This is critical since undervalued lives are left less-protected and more exposed to risk. These price tags are often unfair, infused as they are with gender, racial, national, and cultural biases that often result in valuing the lives of the young more than the old, the rich more than the poor, whites more than blacks, Americans more than foreigners, and relatives more than strangers. The calculations that underlie these price tags are often buried in technical language, yet they influence our economy, laws, behaviors, policies, health, and safety. – How much is a human life worth? Individuals, families, companies, and governments routinely place a price on human life.
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