Why Are We Still Killing Our Workers? Your model is incorrect. The economic value of a human life, of say $6m is over the entire life time of that human.
Lets say a SH has an impact over one year or 1/45 of a working life. That brings a value of $134,000. And if there are 2,200 serious harm incidents then a total value of $294m
If you suggest we spend half on injury prevention (or say $150m) where would we be?
If we added up the sum total of investments employers make in safety management I suspect we would well exceed that figure. ACC contributed $27m alone. And they say they get a $1.3 return for every dollar spent