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    Economic Aspects of OSH

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    Waleed Khan
    This document discusses the economic aspects of occupational safety and health (OSH). It outlines three purposes that economics can serve for OSH: 1) identifying costs can motivate action, 2) understanding market functions aids policy, and 3) worker health is not the only societal objective. It then describes different types of costs, including economic vs. noneconomic, private vs. social, financial vs. implicit, internal vs. external, fixed vs. variable, and visible vs. invisible costs. Finally, it notes the need to develop credible estimates of aggregate social costs for a state's overall economy.

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    Economic Aspects of OSH

    Uploaded by

    Waleed Khan
    48 views16 pages
    This document discusses the economic aspects of occupational safety and health (OSH). It outlines three purposes that economics can serve for OSH: 1) identifying costs can motivate action, 2) understanding market functions aids policy, and 3) worker health is not the only societal objective. It then describes different types of costs, including economic vs. noneconomic, private vs. social, financial vs. implicit, internal vs. external, fixed vs. variable, and visible vs. invisible costs. Finally, it notes the need to develop credible estimates of aggregate social costs for a state's overall economy.

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    This document discusses the economic aspects of occupational safety and health (OSH). It outlines three purposes that economics can serve for OSH: 1) identifying costs can motivate action, 2) understanding market functions aids policy, and 3) worker health is not the only societal objective. It then describes different types of costs, including economic vs. noneconomic, private vs. social, financial vs. implicit, internal vs. external, fixed vs. variable, and visible vs. invisible costs. Finally, it notes the need to develop credible estimates of aggregate social costs for a state's overall economy.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    48 views16 pages

    Economic Aspects of OSH

    Uploaded by

    Waleed Khan
    This document discusses the economic aspects of occupational safety and health (OSH). It outlines three purposes that economics can serve for OSH: 1) identifying costs can motivate action, 2) understanding market functions aids policy, and 3) worker health is not the only societal objective. It then describes different types of costs, including economic vs. noneconomic, private vs. social, financial vs. implicit, internal vs. external, fixed vs. variable, and visible vs. invisible costs. Finally, it notes the need to develop credible estimates of aggregate social costs for a state's overall economy.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    ECONOMIC ASPECTS OF OSH

    1
    Agenda
    • Introduction: Why Economics?
    • Three general purposes that economics can
    serve for OSH
    • Types of Cost
    • Conclusion

    2
    Introduction: Why Economics?
    • Industrial accidents stem from work, and work is
    an economic activity
    • The economic perspective on OSH encompasses
    both causes and consequences:
     The role of economic factors in the etiology of
    workplace ill-health
     Effects of above role on the economic
    prospects for workers, enterprises, nations,
    and the world as a whole
    3
    Introduction: Why Economics?
    • The word “economics”, usually percept to do
    with the management of money

    • “The economics of occupational safety and


    health” suggests for many little more than
    “how can better working conditions be made
    profitable for business?”

    4
    Introduction: Why Economics?
    • The role of OSH, its financial costs and benefits, in business
    management is an important aspect of economic analysis
    • Its perspective is that of society as a whole, which includes:
     Workers
    Their families
    Their communities
    Enterprises
    • It recognizes that not all the effects of ill-health show up in
    monetary transactions

    5
    Introduction: Why Economics?
    • Economics has two general features that
    distinguish it from other social sciences
    1. It focuses primarily on the economy:
     The ways in which individuals and
    communities produce, distribute and consume
    goods and services
    2. Market economies
    • Conventional economics does not provide a
    complete explanation of human behavior
    6
    Three general purposes that economics can
    serve for OSH
    1. Identifying and measuring the economic
    costs of occupational injury and disease can
    motivate the public to take these problems
    more seriously
    2. Understanding the connections between the
    way firms and markets function and types of
    OSH problems that arise is crucial for the
    success of public policy

    7
    Three general purposes that economics can
    serve for OSH
    3. As important as the protection of worker health
    and well-being is, it is not the only objective of
    modern society
    For all of these goals:
     A central concept is that of cost
     Costs of improving the conditions of work, in
    order to reduce the incidence of injury and
    disease
     Costs of not doing these things
    8
    Types of Cost
    • Economic vs noneconomic costs
    • Private vs social cost
    • Financial vs implicit cost

    9
    The Economic Cost to worker
    • Noneconomic costs

    10
    The Economic Cost to Enterprises
    • Economic versus noneconomic costs
    • Internal versus external costs
    • Fixed versus variable costs
    • Visible versus invisible costs

    11
    Internal versus external costs

    12
    13
    Costs of Occupational Injury and Disease at
    the National Level
    • Human carnage in industry was an economic
    burden on society as a whole
    • In the 1990s this changed
    • The economics of OSH at the national level
    was given serious attention in a number of
    countries,

    14
    Conclusion
    • Need to develop credible estimates of the
    aggregate social costs of occupational injury
    and disease for the over all economy of the
    state

    15
    Thankyou

    16

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