Problem
Critics have pointed out a number of flaws in cost/benefit analysis: It assigns a dollar value to things that are not commodities such as human life; it places a price on public goods that we consume collectively (such as air quality); it downgrades the importance of the future through its discount rates; and it ignores distributional issues and issues of fairness.
a. How reliable do you consider cost/benefit analysis as a policy analysis tool?
b. Does cost/benefit analysis work better in some situations and worse in others? (Be sure to give some examples and to explain your overall position.) (Radical)
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.