I heard an ad yesterday on a local Washington, DC, radio station. I forget the company, but at one point in the ad a spokesman for the company proudly proclaimed "Safety is always our first concern."
Of course, we know what this claim is supposed to mean. But let's, for purposes of this blog post, be annoyingly pedantic and take the claim literally — to mean that this firm is always trying to improve safety rather than spending its resources on other fronts. If taken literally, basic post-1871 economics tells us that this firm's current level of safety is inadequate. Why? (Assume that the firm seeks to maximize its profits.)
Use the comments section to write your answer to this pop quiz.
