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Economics of Occupational H & S

Economics of Occupational H & S. What is Economics? What is the standard approach of Economics to O H & S? Critique and revision. Economics. Markets Supply and Demand Efficiency Optimisation. Approach of Economics to O H & S. Costs of Accidents Calculation, results

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Economics of Occupational H & S

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  1. Economics of Occupational H & S • What is Economics? • What is the standard approach of Economics to O H & S? • Critique and revision...

  2. Economics • Markets • Supply and Demand • Efficiency • Optimisation

  3. Approach of Economics to O H & S • Costs of Accidents • Calculation, results • Consequences, in theory, for O H& S • CBA as alternative • Consequences, in practice, for O H & S • Strategic issues

  4. CBA • What is Cost Benefit Analysis? • How can it be used in OSH?

  5. CBA • Increasingly important • Alternative: • “public health” view • “justice” view • These are both important and influential, so why is CBA increasingly important?

  6. Globalization • Technical convergence • Collapse of Keynesianism • New trade imperatives

  7. Globalization and Flexibility • New technology • Outsourcing • Organizational technology

  8. Consequences for H&S • Pressure for deregulation • Need for change in current regulation and • H&S institutions because • “the existing system of regulation is incompatible with the demands of … the new order”

  9. Consequences for CBA • Based on estimated market prices, so relevant • Also based on market failure • But, limits to CBA • impossibility of quantifying all costs • subjectivity in both C and B

  10. Economics of O H & S • Critique and revision...

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