Re: RE: Re: RE: From Brad De Long

[Doug Henwood <dhenwood@xxxxxxxxx>]

Max Sawicky wrote:

> mbs:  I would guess other standards would defy calculation
> even more.  For instance, supposing all lives are assumed
> to be of equal value (I'd be surprised if actual C-B
> analyses did otherwise), you could imagine policies
> A and B of equal cost saved different numbers of lives.
> So being a neoclassical types would guide you to choose
> the more productive policy.  But there is much less, if
> any, guidance, as to how many lives in toto should be
> saved by all policies.  So there is limited or no rationale
> for an overall budget constraint, whether expressed in
> dollars or lives.

So what's the limit on this? What keeps you from descending to the
horrific Summers/Pritchett level, where the logic of dumping toxic
waste in Africa is "impeccable"?

Doug