On Security as an Economic Category

Pospelov D. ()
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Pospelov D.: Budget and Treasury Academy of the Ministry of Finance of the Russian Federation

Finansovyj žhurnal — Financial Journal, 2010, issue 2, 73-84

Abstract: The accident rate growth in the industrial infrastructure facilities is a conspicuous negative trend observed throughout the last decade. The article author examines the key reasons why this happens. According to the author, the main reason for this is the fact that the security regulations have not become an integral part of the profit optimization schemes found on the market. The author states that it is extremely difficult to form the safety criteria and make the market players observe the safety rules at all times. It is unlikely that more strict sanctions would help us resolve the issue as the market players seeking more profit form the safety criteria on their own. If we do not cope with the problem, it would mean that we would not prevent the designers from constructing the accident-prone facilities.

Keywords: accident rate; technical facilities; security and safety; safety criteria; compensation; risks; the value of life (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:100207:p:73-84

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