Posted by Michael Wonder on 03 Jun 2019
Australians’ lives have a price – a ‘quality-adjusted life year’ worth about $50,000
3 June 2019 - How much is your life worth? What would you pay to keep it? More importantly, what would society be willing to pay for you to stay alive?
Pablo Escobar – that occasionally pithy Columbian drug lord – once said that “everyone has a price”.
(It’s unclear whether that was before or after he burned $2 million in banknotes to keep his daughter warm while his family was on the run.)
Many Australians wouldn’t realise that their life has a price, and it’s probably worth about $50,000 a year.
That price is set by a little-known beast known as a QALY.
