ENVIRONMENTAL ECONOMICS: A Critique of Benefit-Cost Analysis

For the past twenty-five years governmental decision makers have employed the economic approach of benefit-cost analysis for resource allocation decisions. “Environmental Economics” describes, in a nontechnical, readily understandable way, why the actual practice of benefit-cost analysis in environmental settings is heavily biased against the environment. The book provides environmentalists with the tools necessary to show policymakers that pursuing many policies with apparent costs greater than benefits is, in fact, welfare enhancing.