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Resilience in social and economic systems: a concept that fails the cost–benefit test?

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  • HANLEY, NICK

Abstract

One of the first lessons that students of cost-benefit analysis (CBA) learn is to ask whether projects or policies which they are studying generate additional benefits or costs, relative to the status quo. They are also told to be very careful in defining the project/policy which is the subject of their analysis. In my view, the ecological concept of resilience fails the CBA test, when applied to the study of economic and social systems, because it offers no additional insights to those we have already, and appears to be poorly defined.

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  • Hanley, Nick, 1998. "Resilience in social and economic systems: a concept that fails the cost–benefit test?," Environment and Development Economics, Cambridge University Press, vol. 3(2), pages 221-262, May.
    • Handle: RePEc:cup:endeec:v:3:y:1998:i:02:p:221-262_25
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    Cited by:

    1. Ron Martin & Peter Sunley, 2015. "On the notion of regional economic resilience: conceptualization and explanation," Journal of Economic Geography, Oxford University Press, vol. 15(1), pages 1-42.
    2. Ron Martin, 2012. "Regional economic resilience, hysteresis and recessionary shocks," Journal of Economic Geography, Oxford University Press, vol. 12(1), pages 1-32, January.
    3. Klimanov, Vladimir (Климанов, Владимир) & Kazakova, Sofia (Казакова, Софья) & Mikhaylova, Anna (Михайлова, Анна), 2018. "Regional Resilience: Theoretical Basics of the Question [Региональная Резилиентность: Теоретические Основы Постановки Вопроса]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 164-187, December.
    4. Brand, Fridolin, 2005. "Ecological resilience and its relevance within a theory of sustainable development," UFZ Reports 03/2005, Helmholtz Centre for Environmental Research (UFZ).
    5. Dormady, Noah C. & Rose, Adam & Roa-Henriquez, Alfredo & Morin, C. Blain, 2022. "The cost-effectiveness of economic resilience," International Journal of Production Economics, Elsevier, vol. 244(C).
    6. Stanley, Conrad, 2020. "Living to Spend Another Day: Exploring Resilience as a New Fourth Goal of Ecological Economics," Ecological Economics, Elsevier, vol. 178(C).
    7. Jean Dub� & Mario Pol�Se, 2016. "Resilience Revisited: Assessing the Impact of the 2007-09 Recession on 83 Canadian Regions with Accompanying Thoughts on an Elusive Concept," Regional Studies, Taylor & Francis Journals, vol. 50(4), pages 615-628, April.

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