ENGINEERING ECONOMY IN THE UNITED STATES IN RETROSPECT--AN ANALYSIS

THE PURPOSE OF THIS PAPER IS TO TRACE AND ANALYZE THE EVOLUTION OF THE MAIN STREAMS OF THOUGHT OF ENGINEERING ECONOMY IN THE UNITED STATES. ENGINEERING ECONOMY, OR ECONOMICS, IS TO BE DEFINED AS A GUIDE FOR THE ECONOMIC SELECTION AMONG TECHNICALLY FEASIBLE ALTERNATIVES FOR THE PURPOSE OF A RATIONAL ALLOCATION OF SCARCE RESOURCES. IT IS IMPORTANT TO ADD THAT THE ULTIMATE SELECTION AS TO THE PREFERRED ALTERNATIVE MAY BE MADE ON GROUNDS OTHER THAN ECONOMIC, BUT THIS IS NOT WITHIN THE SCOPE OF THIS PAPER. THERE ARE THREE SEPARATE BUT DISCERNIBLE HISTORICAL STREAMS OF THOUGHT HAVING VARIOUS POINTS OF TANGENCY WHICH FIT WITHIN THE CONFINES OF THIS DEFINITION. THESE ARE: CLASSICAL ENGINEERING ECONOMY, AND RESOURCES DEVELOPMENT WHICH IN TURN IS DIVIDED INTO BENEFIT-COST ANALYSIS AND ECONOMIC ANALYSIS --WHICH ARE NOT MUTUALLY EXCLUSIVE. EACH IS DESCRIBED. /AUTHOR/

  • Supplemental Notes:
    • Vol 14, pp 109-115
  • Authors:
    • Lesser, A
  • Publication Date: 1969

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Filing Info

  • Accession Number: 00201761
  • Record Type: Publication
  • Source Agency: Traffic Systems Reviews & Abstracts
  • Files: TRIS
  • Created Date: Jun 1 1970 12:00AM