May 05, 2008
Too safe at any speed?

Volvo Promises an Injury-Proof Car by 2020. Yikes! In this driver's personal opinion, most Volvo drivers are already menaces on the road. I hate to imagine what they'll be like when they can drive without risking personal injury!

Personally, I'd reduce accidents (and injuries and deaths) this way:

hermanxxxx99 Moral Hazard Tullock Dagger.jpg

Related issues:

[1] This idea that increasing safety will cause us to behave more recklessly is generally attributed to Sam Peltzman. Here's a study on safety/accidents/deaths in NASCAR.

[2] Here's a short story about how people would drive if they could do so without risking injury, which was the inspiration for my favorite Rush song Red Barchetta.

[3] Most people I know attribute the steering wheel idea to Gordon Tullock though I've heard also that it came from Armen Alchian. The idea of increasing overall safety by making things more risky is getting some traction. I was just reading a book by a mountaineer in which the author (Joe Simpson of Thouching the Void fame) mentioned the steering wheel concept.

[4] For an application of this idea to mountaineering, see this paper by Clark and Lee.

HT: Dave Reed

Posted by Robert Lawson at 08:04 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

Our Bloggers
Joshua Hall
Robert Lawson
E. Frank Stephenson
Michael C. Munger
Lawrence H. White
Craig Depken
Tim Shaughnessy
Edward J. Lopez
Brad Smith
Mike DeBow
Wilson Mixon
Art Carden

Blogroll

Search

Archives
By Author:
Joshua Hall
Robert Lawson
E. Frank Stephenson
Michael C. Munger
Lawrence H. White
Edward Bierhanzl
Craig Depken
Ralph R. Frasca
Tim Shaughnessy
Edward J. Lopez
Brad Smith
Mike DeBow
Wilson Mixon
Art Carden

By Month:
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004
September 2004
August 2004
July 2004

Powered by
Movable Type 2.661

Site design by
Sekimori

XML