Resilience in social and economic systems: a concept that fails the cost–benefit test?

Hanley, N. (1998) Resilience in social and economic systems: a concept that fails the cost–benefit test? Environment and Development Economics, 3(2), pp. 221-262.

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Abstract

One of the first lessons that students of cost-benefit analysis (CBA) learn is to ask whether projects or policies which they are studying generate additional benefits or costs, relative to the status quo. They are also told to be very careful in defining the project/policy which is the subject of their analysis. In my view, the ecological concept of resilience fails the CBA test, when applied to the study of economic and social systems, because it offers no additional insights to those we have already, and appears to be poorly defined.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Hanley, Professor Nicholas
Authors: Hanley, N.
College/School:College of Medical Veterinary and Life Sciences > School of Biodiversity, One Health & Veterinary Medicine
Journal Name:Environment and Development Economics
Publisher:Cambridge University Press
ISSN:1355-770X
ISSN (Online):1469-4395

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