To wit, to offset that $40b loss we could either a) prevent a 9/11 scale attack or b) prevent at most 40,000 deaths of any cause. The operative difference being 1) we know for a fact that many more than 40,000 preventable deaths will happen in the next year alone and 2) we can make a good prediction about what the cost would be to prevent them.
My reason for entering the debate is I think people generally don't think about the true cost of a successful terrorist attack. For example, a successful attack on a nuclear power plant would cost $700 billion. Even if people were thinking about costs accurately, I recognize even then there will be disagreement and I'm happy to have that debate about whether anti-terror or anti-smoking is the right place to spent money. I'm just pushing for people to think more accurately about costs because the usual level of discourse is how cars kill more people than terrorists and thats just not the whole story.
This is a statement that applies to terrorism, not to all-cause mortality. Statistically, it is a given; we can spend $Xm addressing Y different causes of death, watch how death rates respond, and have a pretty good idea which was the best investment. That's the whole reason the various departments have this dollar figure for a human life; they do this sort of analysis all the time.
Trying to apply that sort of economic analysis to a statistically nonexistent phenomenon like major terrorist attacks is utterly useless by comparison. It doesn't matter how accurate or inaccurate our assessment of the costs is, because we have no idea how likely they are to occur in the first place, and no framework to assess what the cost of preventing them would be.
That's complete bunk! What's so special about terrorist attacks that make them so hard to model, as compared to other things governments routinely model like inflation, technology transfer from NASA programs, etc? An absolutely ludicrous assertion.
Your turn: In 2014, what will the inflation rate be? How many people will be obese? How many major terrorist attacks will occur?
Approximate answers are fine.
Well, there's no way for me to argue with that. Good talk.