I recently came across another blogger's post called "An Argument for Eating Your Placenta"
Its talks more about what I touched on - benefits of eating your placenta and so forth. I particularly liked this paragraph:
This made me have a random thought - would a vegetarian eat their own placenta?
Picture this. You are living in a time before iron supplements. It is a time when the best sources of iron are found in organ meat, a time when you don’t have the luxury of saying “yuck, organ meat.” You have just given birth. Your husband is out hunting and no one knows when he will be back. All there is to eat is bread. You have lost a lot of blood and you are very hungry. Thank goodness for your placenta. Doesn’t it make sense that nature would supply a new mother with a certain form of replenishing nourishment in case of uncertain times?
Eating your placenta doesn't go against any of the usual arguments for vegetarianism, mainly moral consideration for animals (no animals are treated poorly or killed) and environmental destruction and distributive justice (no animals were raised in an environmentally harmful or wasteful way to create the placenta, except maybe ourselves). The health argument is a bit iffy... you could say that eating your own body part doesn't pose quite the same health risks as eating the meat of another creature, such as the other animals potential illnesses or bacteria the meat picked up before it gets to you, but you might say that eating meat at all is less healthy than eating plants and a strict vegetarian/vegan diet is simply the healthiest and that's that.. There's also the thought that if eating an animals flesh is bad eating human flesh is just cannibalism, although on the other hand, even veggie-only eating animals eat their own placenta! And the placenta provides you with iron and hormones that are produced by you and beneficial to you, so there are some health benefits right there. I suppose if you were swayed enough by the potential benefits than you might, as a vegetarian, eat your own placenta after these considerations...