From Adam Bitely:
As I was reading up on libertarian philosophy the other night (Machinery of Friedman by David Friedman, which I heavily recommend reading), I approached the question in the title of this post. I have thought heavily on this subject and decided to write some of my thoughts out.
First, if one believed life was truly priceless, he would expend all possible resources to protect his life. As well, this would consume his entire existence and would thus refrain from dangerous activities. This is basically what Friedman argues in his book.
In my work in politics, I often hear people discussing the value of life being priceless. I am troubled to hear people advocate such a position without understanding what it actually means. If ones life were indeed priceless, then why would one partake in certain risky activities. These could range from riding roller coasters to driving in a vehicle. The risks involved in such activities include the loss of ones life. Even factoring in the chances of death in such an activity (which is rather low), just the sheer fact that the life which was valued as priceless was put in such a jeopardizing position shows that no one actually believes it is (nor acts like it).
In my opinion, this simple principle is a major thing that made me consider myself libertarian rather than a American conservative. In American conservatism, life is generally considered priceless. In fact, I am yet to meet a conservative who does not value in life in this way (I can still be proven wrong). While I am against abortion (as are most conservatives), I cannot fathom the value of life being priceless.
Value is assigned to everything. For instance, the soldier who signs up to fight for one’s country has fixed the success of that country as the value of his life. This is a simple example to show that life, does in fact, have a certain value and it is not priceless.
If by “priceless” we mean that there is only one of something, and therefore cannot be traded, then life actually is priceless. You only have one life. It is therefore priceless. Certainly, you can sacrifice your life, or take another’s life, but the fact of death does not make life any less priceless. Our mortality is what makes life so valuable, so precious. Once a life is lost, it is irretrievable. I therefore respectfully disagree. Liberty can be reclaimed. So can property. But life? It is the foremost of all rights.
But one forfeiting one’s life is inherently putting a cost (referring to the sacrifice you mention) to life.
Actually, if you would like to know the estimated values of people’s lives the article is “W. Kip Viscusi, “The Value of Life: Estimates with Risks by Occupation and Industry” (same title as in Economic Inquiry 2004 42 (1), January 2004, pp. 29-48).”
Maybe I will do a follow up post showing the findings.