Last year, Giving Tuesday brought $10 million in dollars of donations to charities, though it's a small sum compared to the billions of dollars spent on all other shopping days like Black Friday, Small Business Saturday and Cyber Monday. Peter Singer, a bioethics professor at Princeton University, teaches a course on charitable giving and is the author of "The Life You Can Save: Acting Now to End World Poverty." He joins The takeaway to discuss why Americans don't give more.
How much is a human life worth? Could you hazard a guess at the federal government's answer? Try $8 million, give or take a couple, depending on the agency that's coming up with the figure. An article published by The New York Times about the process of setting the value of a human life caught our interest. The government must have a system in place to come up with this number, so it can set safety regulations for businesses. But each agency seems to have a different formula for coming up with the figure.