
Thomas J. Kniesner and John D. Leeth
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attention to the implicit voice of the labor and product markets and the opportunities
to trade off expenditures on safety and health against lower wage costs (higher selling
prices) and, in turn, achieve greater profitability.
In looking to the future, new regulation will effectively occur via litigation of future
damage claims for injuries from products and services such has been the case already for
tobacco, firearms or lead paint (Viscusi, 2002a, b). Ideally, regulations will be proposed
that consider the benefits and inevitable opportunity costs. Even if we ignore the ben-
efit side of a regulation on ...