The Research Of Compensation Standards For Deaths Based On The Theory Of The Value Of Life

Safety is the most basic and important needs of human, if you don't have health and life, everything else is meaningless to you. In case of accidents, how to compensate workers who die in the accidents is an important matter of social stability. For a long time, our country ignores seriously the economic value of life and the owners are seriously greedy, resulting in severe situation of production safety in China. The reasonable compensation standard for deaths is based on the reasonable evaluation of economic value of human life, therefore, the reasonable evaluation of economic value of human life, and providing the basis for compensation standard for death are imperative. However, in our country, the study of economic value of human life is insufficient, and a theoretical model of the system has not been established, therefore, facing the serious situation of production safety in China, the paper has a research of evaluation of economic value of human life, hoping to provide theoretical basis for compensation standard for death.Firstly, this paper analyzes several domestic and foreign common methods of estimating the economic value of life, such as Traditional Human Capital Method, Improved Human Capital Method, Salary to Risk Method, Consumption Market method and Condition Value method, and it also recites many international scholars' main results. Then, it introduces the basic system of work injury insurance and various forms of compensation standards for deaths, and shows current compensation data for deaths in our country, finding that China's compensation standard for deaths is too low. Then, taking mining industry in China as an example, this paper describes the situation of production safety in mining industry in China, and reveals the serious situation of so many production accidents, so many deaths in mining Industry in China. Subsequently, it establishes an economic model for mining Industry in China, deduces the formula for evaluating the economic value of life, and it thinks that the economic value of life has a great relationship with price of product, production and other economic factors, which changes with the change of price of product, and according to the analysis of model it finds that production safety in mining industry in China has some following problems: the standard of workers' compensation for deaths is relatively low , emphasis on production safety and safety investment are not enough, supervision from the government is poor, but in general , the evaluation of economic value of human life is too low and the amount of workers' compensation for deaths is too low are the fundamental issue of all issues. For this fundamental issue, according to the formula for evaluating the economic value of life, using the data of production,price,safety investment,the number of death,taxes,cost of production and other data of mining industry in recent years, this paper calculates the economic value of life in mining industry in China, on this basis, it proposes that we should increase the amount of compensation for deaths and uniform the standard of compensation for deaths in China and other effective measures to make standard of compensation for deaths more perfect in China.