Government agencies regularly use the argument that 'safety pays' as a way of motivating employers to attend to occupational health and safety. This paper looks at the effectiveness of this argument in the case of catastrophic hazards. It suggests that, while it may be true that safety pays in an abstract sense, this is irrelevant unless it can be shown that safety pays for relevant decision makers. All too often it does not. The article illustrates its claims by drawing on the literature on...[Show more]
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