Can Investments Be Too Efficient? (Project-Syndicate)

https://www.project-syndicate.org/commentary/investment-efficiency-cost-benefit-analysis-by-diane-coyle-2018-10

When it comes to investment decisions, economists focus on the most efficient use of resources, as revealed by cost-benefit analysis. But, despite the obvious advantages of this approach, optimal efficiency is not always desirable, and the long-term benefits of an investment are not always clear from the start.

DIANE COYLE

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