In Dollars and Sense of Safety, F. J. Van Antwerpen argues that industrial safety should be viewed not only as a humanitarian responsibility but as a sound economic investment. Writing in 1940, the author challenges the belief that safety programs exist purely for moral reasons and demonstrates, using long-term industry data and case studies, that safety delivers substantial financial returns.
Drawing on accident statistics from as early as 1912 and longitudinal evidence from heavy and process industries, the paper shows that systematic safety programs reduce accident frequency, lost workdays, compensation payments, and insurance premiums. Van Antwerpen emphasizes that direct costs such as medical expenses and compensation represent only a fraction of the true economic burden of accidents. Indirect or hidden costs including lost productivity, supervisory time, production disruption, retraining, and material damage are estimated to be four to four-and-a-half times the direct costs.
Through multiple industry examples including chemical, steel, oil, and manufacturing firms, the paper documents reductions of 40 to 80 percent in accident-related costs following the introduction of structured safety and hygiene programs. While the chemical industry exhibits relatively low accident frequency, accident severity and fatality rates are higher, underscoring the importance of engineering design and hazard elimination rather than behavior alone. [Low probability, severe impact quadrant]
The paper concludes that investment in safety improves profitability, operational efficiency, and workforce stability, proving that good safety engineering saves both money and lives.
Citation
Van Antwerpen, F. J. (1940). Dollars and sense of safety. Industrial & Engineering Chemistry, 32(11), 1437–1444.
https://doi.org/10.1021/ie50371a007
