The relevance of cost benefit analysis in a free market economy
By: Ramachandran Vijay.
Material type:
ArticleSubject(s): Cost Benefit Analysis | Cost Effectiveness
In:
Management in GovernmentSummary: The first part of this paper describes the environment of a free market economy and the dangers for a developing country in leaving decisions on investments to be settled in the market place. The second part highlights specific techniques used in cost benefit analysis which make it an effective surrogate for free market forces in the allocation of resources. The concluding part establishes the necessity of circumscribing the extent of government interventiion in market forces to ensure optimal efficiency coupled with social welfare
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Articles
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Indian Institute of Public Administration | Available | AR26762 |
The first part of this paper describes the environment of a free market economy and the dangers for a developing country in leaving decisions on investments to be settled in the market place. The second part highlights specific techniques used in cost benefit analysis which make it an effective surrogate for free market forces in the allocation of resources. The concluding part establishes the necessity of circumscribing the extent of government interventiion in market forces to ensure optimal efficiency coupled with social welfare
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