Skip to main content

View Diary: Cost-Benefit Analysis (50 comments)

Comment Preferences

  •  Just look up criticisms of cost-benefit analysis (2+ / 0-)
    Recommended by:
    Liberal Protestant, NoMoreLies

    and you will find many studies discussing not only the vagueness of the valuation methods, but challenging the entire concept of CBA. It is often still used in Economics, but that approach is particularly frowned upon when looking at ethical issues and environmental issues. Not only are those things difficult to price, they should not be treated as costs in a strict sense, any more than people should attempt to price the cost of your life, death, or suffering.

    Just doing my part to piss off right wing nuts, one smart ass comment at a time.

    by tekno2600 on Mon Feb 17, 2014 at 09:32:37 PM PST

    [ Parent ]

    •  I'd also be very skeptical of the claim that CBA (1+ / 0-)
      Recommended by:
      Liberal Protestant

      won WWII. I'd bet that assertion was made by somebody in Economics or Management. People have always used modeling tools and rules of thumb to help make important decisions, but they usually only contribute to part of the decision making process. I don't think you can credit any specific methodology like CBA with winning a war. I think may other things like the atomic bomb, computers, radars, and jet engines might have had some effect too.

      Just doing my part to piss off right wing nuts, one smart ass comment at a time.

      by tekno2600 on Mon Feb 17, 2014 at 09:37:28 PM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site