What’s the value of a human life?
For some of you this is a very disconcerting question because it attempts to put a dollar value on a person, something we value in far different ways.
But that is exactly what governments and businesses find themselves doing on a daily basis. Every time an insurance company calculates their premiums, militaries plan their budget, or juries calculate an award in a product liability case, the value of human life is a central part of their decisions.
In fact, the value of people is a subconscious calculation that we all make on a daily basis. Each of the following statements will indicate a value judgment happening in the back of our mind:
- If I take this training my salary will go up.
- When the mayor died, his estate was worth millions.
- As a single mother raising 7 children, she left a tremendous legacy.
Much like adding an adjustment for inflation, cost of living increase, or adding a premium for brand name anything, we are constantly readjusting our sense of life’s value in our mind.
To some, the difference in value between a homeless person in Indonesia and the President of the United States may be well over $1 trillion. To others, they should be considered equal.
Seven global shifts are currently underway causing the underlying value of human life to move up the exponential growth curve, and along with it, a massive reassessment of corporate decision-making is about to begin.
Here is why this will become such a huge factor over the coming years.