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A disagreement over the usefulness of benefit-cost analysis for environmental resource allocation

Posted on May 15, 2008

From Environmental Capital:Are environmental goods be they polar bears, tropical forests, or cleanair best preserved with a dollar sign on them? Or does the attempt toput a price on everything lead to knowing the value of nothing?...At the heart of the debate is whether the same tools that can determine the economic wisdom of a building a new factory serve to protect the environment generations into the future. It got fresh legs this month with a back-and-forth at Grist by two eminent law professors and self-professed environmentalists.Richard Revesz, the dean of New York University School...

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