Safety has improved across every dimension of life (auto, workplace) for as long as data exist (50-100 years) because safety is a normal good—positively correlated with income—so as people grow more prosperous they devote more resources to safety and firms compete to provide safer products that consumers will pay a premium for.

causalpending

Speaker

Russ Roberts

Evidence Quote

the standard economic explanation I think would be that safety as a normal good

Source

Clifford Winston on Market Failure and Government Failure 12/28/2009EconTalk
Created: 6/15/2026, 9:37:54 AM

My Notes

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