What Alex Honnold’s Climb Reveals About How Government Values Life

Prof. Michael Greenstone comments on why recent policy changes at EPA undercut decades of economic analysis. Under the new policy, EPA will no longer assign a dollar figure to lives saved when evaluating rules for air pollutants like fine particulate matter (PM₂.₅) and ozone. That marks a break from longstanding practice, as regulators have long relied on the VSL to value mortality reductions in regulatory cost-benefit analysis. 

Critics accuse the Trump EPA of callously valuing human life at zero dollar, warning that ignoring the benefits of saved lives will lead to weaker pollution controls and dirty air. Professor Michael Greenstone insists:

When you allow people to lead longer and healthier lives, that has value that can be measured in dollars.

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