Introduction to Benefit–Cost Volume

Abstract

In the earlier part of the twentieth century, cost–benefit (CBA) or benefit–cost analysis was used as a vehicle by Congress to curtail its wasteful spending, by using the Army Corp of Engineers to examine Congressional projects using CBA. Theodore Porter here examines the rise of the use of CBA in historical context and finds that the Corp was highly successful in reducing wasteful spending. Regardless of the present day effectiveness of the Corps, CBA currently provides valuable service. To appreciate this one need look no further than the effect Arnold Harberger's work and students have had in less developed countries, and at the several hundred useful evaluations of social programs produced over the last several years. Finally, one can look, criticisms of Ackerman and Heinzerling notwithstanding, at many of the analyses of environmental programs.

Citation

Zerbe, R.O. (2007), "Introduction to Benefit–Cost Volume", Zerbe, R.O. (Ed.) Research in Law and Economics (Research in Law and Economics, Vol. 23), Emerald Group Publishing Limited, Leeds, pp. xv-xvii. https://doi.org/10.1016/S0193-5895(07)23017-9