Some Neglected Social Costs of Government Spending in Farm Programs
指出农业计划的经济福利分析通常低估了政府补贴的社会成本，实际边际机会成本每美元在1.20到1.50美元之间，导致净社会成本显著高于传统估计，并影响政策效率排序。
Abstract Economic welfare analyses of farm programs typically assume that the direct social opportunity cost of subsidy payments is one dollar per dollar of government spending. Recent literature suggests that the marginal opportunity cost of a dollar of U.S. federal government spending is more likely to be in the range of $@@‐@@1.20 to $@@‐@@1.50. This implies that the net social costs of farm programs that involve government spending are significantly greater than the typical estimates. In addition, the normative efficiency ranking of alternative policies is sensitive to the marginal opportunity cost of government spending.