Abstract
In the present essay, I explore the relationship between cost-benefit analysis (CBA) and utilitarianism. I find that CBA receives its greatest theoretical support from utilitarianism. In fact, it is nearly identical to one form of that ethical theory and shares with utilitarianism the ideal of replacing reliance on intuitive judgments with reliance on calculative rationality. At the same time, however, CBA suffers from some of the weaknesses of utilitarianism, which render it unreliable as an analytic tool. While modifications to CBA address some of these weaknesses, they virtually abandon the original ideal of replacing intuitions with calculations, because the modifications can be justified and employed only through the use of intuitions.
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Bibliography
Bailey, M. J.: 1980, Reducing Risks to Life, American Enterprise Institute, Washington, D.C.
Bentham, J.: 1948, The Principles of Morals and Legislation, Hafner, New York.
Boulding, K. E.: 1969, ‘Economics as a Moral Science’, American Economic Review 59,1–12.
Boyle, A. R.: 1983, Acid Rain, Nick Lyons, New York.
Elliot, M. W. and Beauchamp, T. L.: 1983, ‘Marketing Infant Formula’, in T. L. Beauchamp (ed.), Case Studies in Business, Society and Ethics, Prentice-Hall, Englewood Cliffs, New Jersey, pp. 221–233.
Freeman, A. M. III.: 1979, The Benefits of Environmental Improvement, John Hopkins University Press, Baltimore, Maryland.
Freeman, A. M. III.: 1982, ‘The Ethical Basis of the Economic View of the Environment’, unpublished manuscript prepared for the Sixth Morris Colloquium, Boulder, Colorado.
Hare, R. M.: 1980, ‘Justice and Equality’, in J. Sterba (ed.), Justice, Wadsworth, Belmont, California, pp. 105–119.
Hare, R. M.: 1981, Moral Thinking: Its Levels, Method and Point, Oxford University Press, Oxford.
Harsanyi, J.: 1977, ‘Morality and the Theory of Rational Behavior’, Social Research 44, 623–656.
The Hastings Center: 1980, ‘Appendix D: Values, Ethics, and CBA in Health Care’, in Office of Technology Assessment, U.S. Congress, The Implications of Cost-Effectiveness Analysis of Medical Technology, U.S. Government Printing Office, Washington, D.C., pp. 168–182.
Hicks, J. R.: 1939, ‘The Foundation of Welfare Economics’, Economic Journal 49,696–712.
Institute of Medicine: 1981, Cost of Environment-Related Health Effects: A Plan for Continuing Study, National Academy Press, Washington, D.C.
Kaldor, N.: 1939, ‘Welfare Propositions of Economics and Interpersonal Comparisons of Utility’, Economic Journal 49, 549–552.
Layard, R.: 1972, Cost-Benefit Analysis, Penguin Books, Middlesex, England.
Mishan, E. J.: 1971, Elements of Cost-Benefit Analysis, Allen and Unwin, London.
Muller, A. and Reutzel, T.: 1984, ‘Willingness to Pay for Reduction in Fatality Risk’, American Journal ofPublic Health 74, 808–812.
Molander, E. A.: 1984, ‘Abbott Laboratories Puts Restraints on Marketing Infant Formula in the Third World’, in T. Donaldson (ed.), Case Studies in Business Ethics, Prentice-Hall, Englewood Cliffs, New Jersey, pp. 189–211.
Nozick, R.: 1974, Anarchy, State and Utopia, Basic Books, New York.
Prest, A. R., and Turvey, R.: 1965, ‘Cost-Benefit Analysis: A Survey’, Economic Journal 75, 683.
Sagoff, M.: 1984, ‘Ethics and Economics in Environmental Law’, in T. Regan (ed.), Earthbound, Random House, New York, pp. 147–178.
Singer, P.: 1974, ‘Sidgwick and Reflective Equilibrium’, The Monist 58, 490–517.
Smart, J. J. C.: 1967, ‘Extreme and Restricted Utilitarianism’, in P. Foot (ed.), Theories of Ethics, Oxford University Press, New York.
Vonnegut, K., Jr.: 1952, Player Piano, Dell, New York.
Wenz, P. S.: Environmental Justice, unpublished manuscript.
Weinstein, M. C. and Stason, W. B.: 1977, ‘Foundations of Cost-Effectiveness Analysis for Health and Medical Practices’, New England Journal of Medicine 296, 716–21.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1986 D. Reidel Publishing Company
About this chapter
Cite this chapter
Wenz, P.S. (1986). CBA, Utilitarianism, and Reliance upon Intuitions. In: Agich, G.J., Begley, C.E. (eds) The Price of Health. Philosophy and Medicine, vol 21. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-4704-7_4
Download citation
DOI: https://doi.org/10.1007/978-94-009-4704-7_4
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-8592-2
Online ISBN: 978-94-009-4704-7
eBook Packages: Springer Book Archive