Cost benefit analysis

There are a lot of arguments regarding cost benefit analysis especially the matter of human life. Should we give out free medication without topping the limits? Will you give up money for safety against 1-millionth chance of King Kong attack?

I did a research paper on the cost benefit analysis of rotavirus before and already found such calculation was not easy and could be controversial. Should we calculate human life equivalent to US$5 - 10 million? How could we justify the amount?

Now, the China government decided to motivate their athletes by awarding so much prize money to reach their Olympics goals. Does it worth to invest $500 million for 50 gold medals? The poor might probably feel sorry about the government's decision as they probably don't have the TV to watch the games and share the glory. I would rather see it giving out half of the award money to rebuild the earthquake area.

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