TY - BOOK
T1 - Social Cost-Benefit Analysis in Australia and New Zealand: The state of current practice and what needs to be done
AU - Dobes, Leo
AU - Leung, Joanne
AU - Argyrous, George
PY - 2016
Y1 - 2016
N2 - Economics is about choice. The resources available to society from people, machines and materials to environment goods are limited. Scarcity means that using a specific resource for one project or policy will preclude its availability for alternative uses. Project funding should thus be considered against the context of missed opportunities. At the most confronting level, a decision-maker may need to ask how many people will die because the government spent money to reduce bushfire hazards (e.g. Ashe et al., 2012), for example, rather than providing more diagnostic equipment in hospitals. As Gittins (2015) observes, the moral of opportunity cost is: since you cant have everything, choose carefully.
AB - Economics is about choice. The resources available to society from people, machines and materials to environment goods are limited. Scarcity means that using a specific resource for one project or policy will preclude its availability for alternative uses. Project funding should thus be considered against the context of missed opportunities. At the most confronting level, a decision-maker may need to ask how many people will die because the government spent money to reduce bushfire hazards (e.g. Ashe et al., 2012), for example, rather than providing more diagnostic equipment in hospitals. As Gittins (2015) observes, the moral of opportunity cost is: since you cant have everything, choose carefully.
U2 - 10.22459/SCBAANZ.04.2016
DO - 10.22459/SCBAANZ.04.2016
M3 - Book
SN - 9781760460204
VL - 1
BT - Social Cost-Benefit Analysis in Australia and New Zealand: The state of current practice and what needs to be done
PB - ANU Press
CY - Canberra
ER -