Inspirational Actuarial Quotes

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announced that families of victims would receive compensation for their loss based in part on the salary each victim was earning at the time of his or her death. After the attacks on the World Trade Center and the Pentagon, Congress had taken the unprecedented step of assuming national responsibility for restitution to the families of the victims. Though the inspiration for this decision was to forestall expensive lawsuits against the airline industry, many observers took it as a signal of a new spirit in the land: in the face of national tragedy, political leaders were i nally breaking with the jungle survivalism of the Reagan-Clinton years. But even in death, the market—and the inequalities it generates—was the only language America’s leaders knew how to speak. Abandoning the notion of shared sacrii ce, Feinberg opted for the actuarial tables to calculate appropriate compensation packages. The family of a single sixty-i ve-year-old grandmother earning $10,000 a year—perhaps a minimum-wage kitchen worker—would draw $300,000 from the fund, while the family of a thirty-year-old Wall Street trader would get $3,870,064. The men and women killed on September 11 were not citizens of a democracy; they were earners, and rewards would be distributed accordingly. Virtually no one—not even the commentators and politicians who denounced the Feinberg calculus for other reasons—criticized this aspect of his decision. 28
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Anonymous