Definitions for value of life
This page provides all possible meanings and translations of the word value of life
Value of life
The potency of life is an economic value assigned to life in general, or to specific living organisms. In social and political sciences, it is the marginal cost of death prevention in a certain class of circumstances. As such, it is a statistical term, the cost of reducing the average number of deaths by one. It is an important issue in a wide range of disciplines including economics, health care, adoption, political economy, insurance, worker safety, environmental impact assessment, and globalization. In industrial nations, the justice system considers a human life "priceless", thus illegalizing any form of slavery; i.e., humans cannot be bought for any price. However, with a limited supply of resources or infrastructural capital, or skill at hand, it is impossible to save every life, so some trade-off must be made. Also, this argumentation neglects the statistical context of the term. It is not commonly attached to lives of individuals or used to compare the value of one person's life relative to another person's. It is mainly used in circumstances of saving lives as opposed to taking lives or "producing" lives.
U.S. National Library of Medicine
Value of Life
The intrinsic moral worth ascribed to a living being. (Bioethics Thesaurus)
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"value of life." Definitions.net. STANDS4 LLC, 2014. Web. 31 Oct. 2014. <http://www.definitions.net/definition/value of life>.