The Stupidity of the Cost‐Benefit Standard

  title={The Stupidity of the Cost‐Benefit Standard},
  author={Henry S Richardson},
  journal={The Journal of Legal Studies},
  pages={971 - 1003}
  • H. Richardson
  • Published 1 June 2000
  • Computer Science, Political Science
  • The Journal of Legal Studies
Cost‐benefit analysis (CBA) is often touted as providing not just an important base of information useful in evaluating government programs, but a general standard of public choice that will help insure the wise and intelligent use of our limited resources. This article argues that (wholly apart from its deficiencies in other respects) CBA cannot provide such a standard. Intelligent deliberation is shown to require a willingness and ability to refashion aims in light of new information that… 
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