The Accounting Review Vol. 32 No. 3 1957
THE COST OF HUMAN DEPRECIATION-OSTRICH LIABILITY?
Abstract
Despite individualism, there is a social minimum in the U.S. It is a minimum living standard below which one will not consciously allow anyone to go. But far more than barely exceeding a minimum social responsibility and merely preserving the weak, enlightened self-interest brings about a positive approach. First of all, it is proposed that preventive measures are more economical than relief of human wreckage, and secondly, that industry must recognize its responsibility in bearing the burden of all the costs of productive enterprise. The alternative is government assumption of this responsibility. As the economic cost of production must include depreciation of plant and equipment, so must it include depreciation of labor or human effort. It is with inexorable human depreciation which results from oncoming old age, that this article is mainly concerned. The cost of retirement cannot be avoided by the failure of industry to absorb all of its share in current operations. For then the cost may simply be shifted to the community in general and will return in substantial measure to the producing entities.
- DOI
- 10.2308/tar-7059438
- Volume
- 32
- Issue
- 3
- Pages
- 413-418
- Language
- en
- Sources
- openalex crossref