The methodology of benefit-cost analysis with particular reference to the CFC program

This paper is a preliminary investigation of some critical concepts of allocative economics to determine the extent to which benefit-cost analysis of the CFC problem can make an economic contribution to the decision-making processes of society. If our conclusions are, in the main, correct, they will act inevitably to weaken the faith that can be reposed in a benefit-cost analysis or, at least, to restrict its range of application.