This comment on economists' and policy makers' betrayal of welfare economics by adopting "cost-benefit analysis" (or the potential-Pareto criterion) is fabulous. via @SteveRoth

@SteveRoth (The pedant in me can't help but point out that even *with* compensation, we must impose as a normative matter interpersonal comparison of welfare in order to make claims of welfare improvement. Absent unanimous agreement to a policy — with which or without reasonable compensation, will rarely be forthcoming, as people have idiosyncratic attachments or play holdup games — even with compensation we can't "scientifically" know the compensation is adequate.)

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