Environmental Economics: A Critique Of Benefit-Cost Analysis

Book Details

• Author: Philip E. Graves

• Publisher: Rawat Publications

• Language: English

• Edition: 2010

• ISBN: 8131603342

• Cover: Hardcover

• Package Dimensions: 9.6 x 6.3 x 0.7 inches

About the Book

For the past twenty-five years, governmental decision-makers have relied heavily on the economic approach of benefit-cost analysis to guide resource allocation decisions. However, Environmental Economics offers a non-technical and easily understandable critique of this method, highlighting why its application in environmental contexts often results in a bias against the environment. The book explores the limitations of benefit-cost analysis in environmental settings and presents a compelling case for why many policies, which initially appear to have costs greater than their benefits, can, in reality, enhance overall welfare.

Graves equips environmentalists with the tools to effectively argue that pursuing such policies can result in long-term societal benefits, offering a fresh perspective on how environmental economics can be applied to better inform decision-making in the face of environmental challenges.

About the Author
Philip E. Graves, Ph.D. from Northwestern University (1973), is a professor with a focus on environmental economics, urban/regional economics, and applied price theory. His recent research addresses labor supply market failures, the optimal provision of public goods, and the disparity between willingness-to-accept and willingness-to-pay. Graves has also explored economic growth, business cycles, and the role of amenities in household location decisions. His work in monetary economics and applied microeconomics continues to shape his broad contributions to economic thought.