The Economics Of Product Labeling And Hazard Communications

The initial intent of the Hazard Communication Standard (HCS) was to improve worker health by providing more information about the hazards of chemicals used in the workplace. However, the impact of the HCS goes well beyond worker right-to-know. There are direct costs associated with compliance. In addition, labelling and hazard communications can provide a competitive advantage to producers of minerals that have not been identified as hazardous. Often, the lack of hazardous information about a substance is due to the lack of scientific study, rather than an indication of product safety. Currently, industry and regulators sometimes give known hazards greater weight than unknown risks.