The Third London Airport — A Cost-Benefit Analysis

Author(s):  
Catherine M. Price
2021 ◽  
pp. medethics-2020-107103
Author(s):  
Stephen David John ◽  
Emma J Curran

Lockdown measures in response to the COVID-19 pandemic involve placing huge burdens on some members of society for the sake of benefiting other members of society. How should we decide when these policies are permissible? Many writers propose we should address this question using cost-benefit analysis (CBA), a broadly consequentialist approach. We argue for an alternative non-consequentialist approach, grounded in contractualist moral theorising. The first section sets up key issues in the ethics of lockdown, and sketches the apparent appeal of addressing these problems in a CBA frame. The second section argues that CBA fundamentally distorts the normative landscape in two ways: first, in principle, it allows very many morally trivial preferences—say, for a coffee—might outweigh morally weighty life-and-death concerns; second, it is insensitive to the core moral distinction between victims and vectors of disease. The third section sketches our non-consequentialist alternative, grounded in Thomas Scanlon’s contractualist moral theory. On this account, the ethics of self-defence implies a strong default presumption in favour of a highly restrictive, universal lockdown policy: we then ask whether there are alternatives to such a policy which are justifiable to all affected parties, paying particular attention to the complaints of those most burdened by policy. In the fourth section, we defend our contractualist approach against the charge that it is impractical or counterintuitive, noting that actual CBAs face similar, or worse, challenges.


2010 ◽  
Vol 213 ◽  
pp. F39-F44 ◽  
Author(s):  
Ray Barrell ◽  
Dawn Holland ◽  
Dilruba Karim

The financial crisis that started in mid-2007 enveloped the world economy and caused a serious recession in most OECD countries. It is widely believed that it has also left a scar on potential output because it will have raised perceptions of risk and hence reduced the sustainable capital stock people wish to hold. It is inevitable that policymakers should ask what can be done to reduce the chances of this happening again, and it is equally inevitable that the banks would answer that it is too costly to do anything. There are four questions one must answer before it is possible to undertake a cost-benefit analysis of bank regulation. The first involves asking what are the costs of financial crises? The second involves asking what are the costs of financial regulation? The third involves asking what causes crises? The fourth, and perhaps the most important, involves asking whether regulators can do anything to reduce the risk of crises? Our overall approach to these issues is spelled out in a report written for the FSA in the aftermath of the crisis (see Barrell et al., 2009).


1979 ◽  
Vol 18 (2) ◽  
pp. 147-163
Author(s):  
John Weiss

Recent developments in the methodology of social cost -benefit analysis (SCBA) have centred on the use of weights to revalue the income flows created by projects. These developments reflect the increased concern expressed by many governments in the less developed countries (LDCs) about the problems of the lowest income groups, and are an attempt to show how the objective of greater equity in income distribution can be incorporated, in addition to other more conventional objectives, in the appraisal of projects. 1ltis paper discusses the use of income weights in the light of the results of a more detailed study on SCBA in Pakistan by the author [I]. The paper is divided into three sections: the first analyses the different ways in which a weighting system can be incorporated into the appraisal of projects; the second discusses the problem of obtaining values for these weights and suggests a relatively simple approach which can be applied in Pakistan; and, finally, the third section discusses the practical significance of such procedures for decision -taking in the LDCs.


2009 ◽  
Vol 2 (2) ◽  
pp. 304-318
Author(s):  
Ali AlKuwari

The author provides an informative account of the Third Oil Boom and its impact on the economies of the Gulf States. Beginning by tracing the reasons behind its inception, he examines solutions for investment in alternative sources such as sand oil, oil-extraction from deep waters, shale oil as well as bio-fuel in a cost-benefit analysis. In the second half of this study, the author provides statistics and tables to explain the upsurge in oil prices and revenue values of these states as precipitated by the Third Oil Boom and how this eventually led into an economy of surplus budgets in the Gulf region. Finally, he tackles the grave repercussions of the current financial crisis on such economies.


2020 ◽  
pp. 877-896
Author(s):  
Yasin Galip Gencer

Recycling is a key component of modern waste reduction and is the third component of the “Reduce, Reuse and Recycle” waste hierarchy. Recycling and/or waste minimization is a prerequisite for sustainable value and green environment. Recyclable materials include many kinds of glass, paper, metal, plastic, textiles, and electronics. The composting or other reuse of food is also considered recycling. This chapter starts with an expanded definition of recycling; afterwards, the recycling processes of glass and aluminum are examined in detail. Besides recycling, for a green environment the necessity for reducing and reusing of waste is also considered. Another topic will be the myths of recycling-unknown realities about recycling process. Furthermore, types of recycling and cost-benefit analysis will be explained. Ultimately, the chapter will be concluded by criticisms about recycling, and potential areas for further discussion.


Author(s):  
Yasin Galip Gencer

Recycling is a key component of modern waste reduction and is the third component of the “Reduce, Reuse and Recycle” waste hierarchy. Recycling and/or waste minimization is a prerequisite for sustainable value and green environment. Recyclable materials include many kinds of glass, paper, metal, plastic, textiles, and electronics. The composting or other reuse of food is also considered recycling. This chapter starts with an expanded definition of recycling; afterwards, the recycling processes of glass and aluminum are examined in detail. Besides recycling, for a green environment the necessity for reducing and reusing of waste is also considered. Another topic will be the myths of recycling-unknown realities about recycling process. Furthermore, types of recycling and cost-benefit analysis will be explained. Ultimately, the chapter will be concluded by criticisms about recycling, and potential areas for further discussion.


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