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LAWRENCE SUMMERS ’ MEMO, OR WHY COST-BENEFIT ANALYSIS IS NOT A MORAL COMPASS FOR ENVIRONMENTAL POLICY ANALYSTS†
BibTeX
@MISC{Milanese_lawrencesummers,
author = {John R. Milanese and John R. Milanese},
title = {LAWRENCE SUMMERS ’ MEMO, OR WHY COST-BENEFIT ANALYSIS IS NOT A MORAL COMPASS FOR ENVIRONMENTAL POLICY ANALYSTS†},
year = {}
}
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Abstract
Abstract. Economic cost-benefit analysis is used by environmental pol-icy analysts as a primary tool for assessing policy efficacy. Economists often stress that cost-benefit analysis is simply a calculation method, and not a guide to appropriate action. However, as cost-benefit analysis is used normatively by policy analysts, it should be evaluated as a moral compass for environmental policy decision-making. I argue that envi-ronmental policy analysts cannot rely on cost-benefit analysis to provide morally-acceptable guidance in decision making. When it is taken to be a ready reference for “right ” action, a number of problematic tendencies demonstrate why it is not a neutral tool for analyzing policy.
Keyphrases
cost-benefit analysis lawrence summer memo primary tool moral compass environmental policy decision-making envi-ronmental policy analyst environmental pol-icy analyst policy analyst ready reference problematic tendency policy efficacy right action neutral tool morally-acceptable guidance calculation method decision making economic cost-benefit analysis
