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ERIC Number: ED017791
Record Type: RIE
Publication Date: 1967-Feb
Pages: 1
Abstractor: N/A
Reference Count: N/A
ISBN: N/A
ISSN: N/A
THE PLANNING AND COST-BENEFIT ANALYSIS OF SOCIAL INVESTMENTS.
SCOTT, NORMAN; AND OTHERS
THIS ARTICLE EXPLAINS COST BENEFIT ANALYSIS, NEWEST OF THE TECHNIQUES FOR ASSESSING THE EFFICIENCY OF PUBLIC EXPENDITURES. WHEREAS SOCIAL BENEFITS ARE EXCLUDED FROM ORDINARY FINANCIAL ANALYSIS OF INVESTMENT, COST BENEFIT ANALYSIS TRACES EFFECTS OVER THE ENTIRE PERIOD OF REPERCUSSIONS ON THE ECONOMY AND THEREFORE ON PRESENT AND FUTURE SOCIAL WELFARE, TO RECONCILE PRIVATE GOOD WITH SOCIAL GOOD AND PRIVATE COST WITH SOCIAL COST, SO IMPORTANT WHERE THE STATE IS INCREASINGLY ASSUMING ECONOMIC RESPONSIBILITIES. GENERAL TECHNIQUES AND MAIN CHARACTERISTICS OF ECONOMIC PLANNING ARE DISCUSSED, AND A MACRO-ECONOMIC PLANNING MODEL DEVISED AS A 15-YEAR PLAN FOR POLAND IS DESCRIBED. QUESTIONS ANSWERED ARE WHAT TO INCLUDE AS COSTS AND BENEFITS, HOW TO VALUE THEM BY ESTABLISHING SHADOW PRICES AND OPPORTUNITY COSTS, WHICH DISCOUNT RATES TO USE IN REDUCING FUTURE VALUES TO PRESENT VALUES FOR COMPARING PRESENT COSTS, AND WHAT TECHNICAL AND SOCIAL CONSTRAINTS THE PLANNER MEETS. CASE STUDIES RELATED TO MANAGEMENT, INDUSTRIAL RELATIONS, AND MANPOWER TRAINING PRESENT COST BENEFIT ANALYSES OF MANPOWER RETRAINING IN WEST VIRGINIA, RETRAINING IN CONNECTICUT, AND REHOUSING 500 INDIAN FAMILIES IN SOUTH DAKOTA. EMPHASIZED ARE IMPLICATIONS FOR ECONOMIC PLANNING AND DEVELOPMENT OF GENERALIZED USE OF COST BENEFIT TECHNIQUES TO APPLY TO SECTOR AND NATIONAL PLANNING LEVELS. THIS DOCUMENT APPEARED IN THE BULLETIN OF THE INTERNATIONAL INSTITUTE FOR LABOUR STUDIES, NUMBER 2, FEBRUARY 1967. 44 PAGES. (RT)
Publication Type: N/A
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: N/A
Identifiers: N/A