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Monday, October 16, 2006

Why Do Government Economists Still Use Cost Benefit Analysis?

DAVE IVERSON doesn't like to use benefit cost analysis. He seems to present one aspect of his critique with the following series of questions:
"In 'Economic Advice' I suggest that we answer four questions when dealing with efficiency: Efficient at what? Efficient for whom? Efficient by what standard? Efficient for how long? (And then what?) "
They seem like perfectly fine questions. Do you know the answers?

Read his whole piece. I find it confusing. Do you?

Can you detect any part of his post that would accept the idea that the fundamental normative issue involving government is deciding what is a justified use of government's coercive power?

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