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What is the Equimarginal principle? This is a fancy term that economists use for a condition that must hold if we are maximizing the results of our efforts. Suppose we want to maximize protection against the risk from weapons of mass destruction. Then the principle says the last dollar spent on any one activity must add just as much to protection of our h
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The Plan for establishing a foreign policy limiting the use of weapons of mass destruction had 3 parts. At least sixteen countries have active chemical weapons programs. It comes from people who are hostile to Western values and our way of life. To replace that much vaccine now the government will have to spend $600 million for something we could have had for a mere $250,000 in storage costs. (John Parachini, US Government Spending to Combat Terrorism: Chart and Analysis)# We are spending too little relative to other spending to protect our health and safety. As weapons of mass destruction multiply they become increasingly available to people who will misuse them. For example, a typical rule of thumb for federal regulatory agencies is: the risk is too high if the odds of losing a human life are greater than one in one million. For more than 20 years we have been debating whether we should spend less than $1 million to make potassium iodide available to people who live near nuclear reactors. 5 billion is spending specifically for Weapons of Mass Destruction-related efforts.
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