We can see that it is possible to do a Marginal Benefit / Marginal Cost analysis that is either non-financial -- or includes non-financial parts.
Clearly in situations involving major government intervention into private markets -- somehow we need to weigh the benefits versus the costs of doing so. This is where economics and in particular the concept of marginal analysis plays a big role.
Perhaps the hottest example these days is the troubled airline industry. Clearly this industry is in trouble - but how much intervention by government is appropriate? It's a difficult issue.
What do others think?
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