MANAGEMENT AND USE OF LAND AS A PUBLIC GOOD

Land Economics/Use,

VALUES, BELIEFS AND MYTHS IN NATURAL RESOURCES POLICY MAKING

Resource /Energy Economics and Policy,

SOCIAL GAIN, WELFARE, POLITICAL ECONOMY AND A' THAT

The economic criterion of public investment choice is aggregate consumers' surpluses and producers' rents generated by the investment. Its analytical model is a social revenue function and a social cost function. It is a welfare criterion only so far as efficiency is a welfare component and then subject to severe limitations. It is argued here that the economist's conclusions rest in part on a set of value preferences; therefore, the test of their rightness is in part their acceptability to the public choice-maker

SOCIAL GAIN, WELFARE, POLITICAL ECONOMY AND A' THAT

The economic criterion of public investment choice is aggregate consumers' surpluses and producers' rents generated by the investment. Its analytical model is a social revenue function and a social cost function. It is a welfare criterion only so far as efficiency is a welfare component and then subject to severe limitations. It is argued here that the economist's conclusions rest in part on a set of value preferences; therefore, the test of their rightness is in part their acceptability to the public choice-maker.Political Economy,