The Economy of the Earth : Philosophy, Law, and the Environment (Cambridge Studies in Philosophy and Public Policy)

Rating:
Summary: Critique of cost-benefit analysis for environmental matters
Review: Prof. Sagoff demonstrates the problematic nature of an economic approach to environmental decisionmaking. Even granting that we could quantify environmental values in dollar terms, he raises the important question of why we would want to do such a thing. The author argues that questions of balancing environmental values against other "goods" should be decided in the public political arena, and not by reference to people's private willingness to pay. Somewhat puzzling is Sagoff's adherence to a utilitarian philosophy; I'm still waiting for someone to point out the obvious liberty and distributive-justice problems with cost-benefit analysis in the sphere of environmental regulation.

Rating:
Summary: Critique of cost-benefit analysis for environmental matters
Review: Prof. Sagoff demonstrates the problematic nature of an economic approach to environmental decisionmaking. Even granting that we could quantify environmental values in dollar terms, he raises the important question of why we would want to do such a thing. The author argues that questions of balancing environmental values against other "goods" should be decided in the public political arena, and not by reference to people's private willingness to pay. Somewhat puzzling is Sagoff's adherence to a utilitarian philosophy; I'm still waiting for someone to point out the obvious liberty and distributive-justice problems with cost-benefit analysis in the sphere of environmental regulation.