By Benjamin Zycher
Weighing advantages and prices of countering terorism unearths that the efforts repay, in occasionally unforeseen methods.
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Extra info for Preliminary Benefit Cost Framework for Counterrorism Public Expenditures
This assumes that current voters do not increase saving and future bequests if government borrowing increases—that is, that the “Ricardian equivalence” argument does not hold. See Joseph G. Altonji, Fumio Hayashi, and Laurence Kotlikoff, Parental Altruism and Inter Vivos Transfers: Theory and Evidence, National Bureau of Economic Research, Working Paper 5378, December 1995. ” Journal of Political Economy, November/December 1974. 7The correspondence between the Reagan-era increases in the national debt and federal capital investments were surprisingly close.
S. Senate, Republican Policy Committee, October 2, 2001. Viscusi, W. Kip, “The Value of Risks to Life and Health,” Journal of Economic Literature, Vol. 31, December 1993, pp. 1912–1946. Wurmser, David, Tyranny’s Ally, Washington, DC: AEI Press, 1999. Zycher, Benjamin, “Debt, Defense, and Reaganomics,” National Review, December 14, 1992.
42 Presumably, our moderate case would not elicit such an effort and consumption of resources, while our nuclear case would engender a true national mobilization of some sort, with costs accordingly even higher. For discussion purposes, therefore, let us assume respective counterterrorism costs for our moderate, severe, and nuclear cases of $10 billion, $200 billion, and $300 billion. 8 summarizes these figures. ________________________________________________________________________ problem sometimes encountered in this literature is a failure to distinguish clearly between shortand long-term effects; the marginal cost of government spending is higher in the long run than in the short run.
Preliminary Benefit Cost Framework for Counterrorism Public Expenditures by Benjamin Zycher