An Analysis of the Value of Life in Economics

A man is a moral man as well as an economic man. When we say the value of life, we actually mean a combination of values chased by both an economic man and a moral man. As we need to consume limited resource to achieve the value of life, the maximization of the value of life can be only realized on the crossing point of nondifference value curve and resource restricting curve. We, therefore , can reach a conclusion that if there are two people as economic ones who have achieved the same value, the one who has achieved more value as a moral man gains more; and vice versa.