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ECONOMICS AND FEDERAL WATER PROJECTS 1
Author(s) -
Farris Martin T.
Publication year - 1971
Publication title -
jawra journal of the american water resources association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.957
H-Index - 105
eISSN - 1752-1688
pISSN - 1093-474X
DOI - 10.1111/j.1752-1688.1971.tb05050.x
Subject(s) - economics education , function (biology) , task (project management) , economics , applied economics , managerial economics , resource (disambiguation) , human development theory , water resources , energy economics , public economics , positive economics , management science , mainstream economics , management , microeconomics , computer science , economic growth , higher education , ecology , computer network , evolutionary biology , biology
While the science of economics is widely used in Federal water resource development projects, the usual procedure of applying an analytical discipline to arrive at a conclusion is reversed. The “answer” is usually provided ahead of time and economics is assigned the task of justifying the preconceived conclusion. This leads to a series of mitigatory effects in which economics as a science is not allowed to freely function. This article attempts to illustrate some of these “unusual” uses of economics in Federal water projects and note the “answers” we would logically expect from the economic discipline. Even though the theory of economics is often subverted, there are positive aspects to the role of economics in evaluating Federal water projects.