Heterodox
by David Zetland The one-handed economist Benefit-cost accounting (BCA) began with a simple comparison of monetary benefits and costs, e.g., should I invest $100 in exchange for a return of $10 per year. Then people wanted to compare more abstract values, such as the benefit of a vacation or sandwich or education against the costs of those goods. In those cases, the benefits are somewhat subjective — depending on the person, timing, etc. —...
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