Comments by user: Mokesmith
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KDR81: "We already have government management of workplace safety to the tune of $500 million a year."
This perspective misses a central aspect of human nature. Economics tells us that we will spend the least amount of money we can get away with, on workplace safety just as other business costs. The presence of government health and safety regulation prompt most legitimate businesses to pay attention to the issue, preventing untold already-avoided injuries, deaths and costs to business that are not accounted for in your calculations. Even the current regulatory burden is a joke in many industries: go work for a week in a meatpacking plant and then report back to us how inefficiently safe those OSHA regs made your work.
If your business cannot efficiently prevent injuries that externalize harm onto society, you should get out of that particular business and make way for those who can.