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    News and Articles on Social Costs

    Archives: Social Costs

    NSW: not a developer's nirvana...it's planning hell  Nov 18, 2009
    However, the absence of property development comes with high social costs too. Relative to our population, we are producing less new privately financed homes than any other state or territory in Australia. (Sydney Morning Herald -- Opinion)

    Parents applaud governor on her 'rainy day' reversal  Nov 17, 2009
    Allison Mikuni's daughter attends Kahala Elementary School, and Mikuni said she believes that "No one looked at furloughs from the long-term social costs and implication of not educating your future. They were only looking at the fiscal situation, as a dollar-and-cents issue. I appreciate the fact that the governor looked at what has happened and is making the changes as needed.". Lingle announced yesterday that she wants to end teacher furloughs starting in January by tapping into the state's... (Honolulu Advertiser)

    The Soviet experience  Nov 14, 2009
    The only difference was that in the US it was a system of planning focused solely on unit end-results while externalizing social costs to society at large. Soviet and Third Reich central planning of this period received glowing praise from US planners of the New Deal. (Asia Times Online)

    Hudson: Tax increase a safer bet for revenue than casino gambling  Nov 5, 2009
    Are we willing to put up with the increased social costs of legalized casino gambling increased crime, increased gambling addiction, neighbors and friends and those who really cannot afford to gamble lured into the myth of winning when the truth is the house always wins. Is a casino what we in the Bay State are really all about. (Dover Sherborn Tab, MA)

    Struggling Ohio opens doors to casinos  Nov 4, 2009
    An economic impact study commissioned by the campaign predicted nearly 40,000 temporary and permanent jobs and $4 billion in economic impact, though social costs were not considered. State Rep. (FOX19.com, OH)

    Henry's tax plan mustn't ignore environment  Nov 2, 2009
    The Henry report should get rid of explicit subsidies to fossil fuel and other natural resource use, and then move in on implicit subsidies to those environmentally damaging activities whose private costs don't reflect the social costs they impose on the community and its life-supporting ecosystem. Now that would be a tax blueprint that could stay relevant for 25 years. (Sydney Morning Herald -- Business)

    No infrastructure unless you borrow  Oct 31, 2009
    Then we need better planning of infrastructure needs, including more rigorous assessment of the social costs and benefits of particular projects, and finally we need published monitoring and measurement of progress towards our predetermined goals. Ross Gittins is the Herald's Economics Editor. (Sydney Morning Herald -- Business)

    Beacon Hill Roll Call: House votes to retain affordable housing  Oct 31, 2009
    They argued that casinos would create many social costs including increased crime, more gambling addicts, bankruptcies, foreclosures, divorce and even domestic violence. DIMASI'S PENSION IS SUSPENDED - The State Retirement Boar has suspended former House Speaker Salvatore DiMasi s $4,952 monthly pension while he awaits trial on federal corruption charges. (Cambridge Chronicle, MA)

    TV's Increasing Female Body Count  Oct 30, 2009
    Columns, funnies in your inbox. Townhall Daily Alert Your daily must-read of conservative columns, cartoons and news. (Townhall.com)

    WSU-Vancouver gathering to focus on future of region's dams  Oct 30, 2009
    No major dam has avoided destructive environmental and human consequences, which have always generated opposition to their construction and contests over continued social costs that result from dam operations, Lang said. In the Columbia River Basin, there are several high-profile examples of these characteristics of big dam projects. (Longview Daily News, WA)

    Push to legalize marijuana gains ground in California  Oct 29, 2009
    "But there's way more in social costs than we retain in revenues." ... "But there's way more in social costs than we retain in revenues.". (Honolulu Star-Bulletin)

    Pain of problem gambling  Oct 28, 2009
    Clearly, the commission considers the reduction in ''social costs'' likely to be brought about by the proposals would justify the loss of efficiency and slower growth ... But gambling hardly constitutes the only instance of social costs generated by economic activity. (Sydney Morning Herald -- Opinion)

    Oil And Ghanas Future Lessons to learn  Oct 26, 2009
    Most importantly, the government must make sure that the oil companies take business and social responsibility seriously in order to avoid any social costs, such as pollution and land degradation, accruing to the people of Ghana. A little of the social costs has already taken place in Ghana where cyanide spills have occurred in local rivers as a result of the activities of mining companies ... In addition to avoiding social costs, the oil companies must address the provision of social benefits... (Ghana Web, Ghana)

    The Anti-Capitalist Impulse on the Right  Oct 24, 2009
    While capitalism may be efficient, its enormous social costs require rectification through outside control. Inevitably, that means a massive expansion of the State, so long as the right people (e. (Townhall.com)

    Click to read:Exclusive: Mexican Drug Cartels in Atlanta  Oct 22, 2009
    Allowing illegal immigration is only the beginning of lawlessness that harms Americans in many ways from social costs, job losses, excessive tax burden for schools, to major criminal gangs and drug infiltration. If we allow this cancer to spread we will all pay the price of murderous criminality just as is common place south of the border. (CBS News)

    State, local officials to do homework on casino  Oct 21, 2009
    Other preliminary concerns range from traffic to the social costs of gambling to the extra burden on police and fire services ... Fernandes said the town needs to consider the social costs of gaming, which are not insignificant. (Allston Brighton TAB, MA)

    Cash-strapped Ohio considers casino bid  Oct 19, 2009
    TruthPac says casino proponents ignore social costs such as addiction, divorce, and bankruptcy, and the impact of casinos low food and beverage prices on adjacent bars and restaurants. A University of Cincinnati jobs study about the projected casino impact released earlier this year predicted 39,251 jobs and $4 billion in overall economic impact. (Boston Globe)

    H1N1 Simulation Modeling Shows Rapid Vaccine Rollout Effective In Reducing Infection Rates  Oct 19, 2009
    However, the authors note there are important social costs of school closures that they did not examine in the analysis. The study did not attempt to predict influenza-related deaths, and did not assess vaccination strategies targeted to high risk groups or specific age groups, such as school age children. (Science Daily)

    Parents demand action  Oct 19, 2009
    "The social costs and the long-term implications are really tremendous for our community," Mikuni said ... "The social costs and the long-term implications are really tremendous for our community," Mikuni said. (Honolulu Star-Bulletin)

    Remove revolving doors from jails  Oct 16, 2009
    Moreover, there are social costs. These include the lost labor-market productivity of inmates, the collateral damage to victims and families and loss of their contributions to civic life. (Atlanta Journal-Constitution -- Opinion)

    Celebrities and their obsessions.  Oct 14, 2009
    Mental, neurological and behavioural disorders are common in all countries around the world, causing immense suffering and staggering economic and social costs. People with disorders are often subjected to social isolation and poor quality of life. (The Star Online, Malaysia)

    Nigeria: Groups Seek Adequate Shelter for All  Oct 8, 2009
    For a number of LAMCOFOR member communities, these rights are being denied," Morka said. Relevant Links He again, posited that SERAC is calling on all communities, local governments, media practitioners, academics, human rights activists and the public to support advocacy efforts in ensuring that development takes place with minimal social costs. Meanwhile, LAMCOFOR Chairman, Prince Samuel Aiyeyemi, in his address, stated that it is a taboo to demolish homes belonging to human beings, adding... (allAfrica.com)

    Sotomayor questions earn notice  Oct 6, 2009
    The Obama administration defends the law as reasonable, saying that "the value of the speech" is outweighed by its "social costs.". An equally anticipated set of cases from Florida questions whether it's cruel and unusual punishment to sentence a juvenile to life in prison without parole. (Fresno Bee)

    OUR VIEW: Video gambling a fair shot at cha-ching for state  Oct 5, 2009
    antigambler wrote on Oct 3, 2009 2:07 PM:" This editorial board is clueless. Studies show that dually-addicted individuals find it harder to break a gambling addiction than alcohol or drug addictions. An addicted gambler will gamble away money intended to buy drugs. The social costs are $3 for each $1 of tax revenues. Just look at how well the "for-amusement-only" machines have been regulated to see what a joke regulation is. Einstein said that the definition of insanity is to do more of the... (Mattoon Journal-Gazette, IL)

    Half of addicts quit after 6 months of treatment  Oct 3, 2009
    He said ongoing treatment would ultimately lower the medical and social costs of drug addiction, including crime and lost productivity. "The cost savings will be astronomical," he said. (Atlanta Journal-Constitution -- Health)

    State budget pitch collapses  Oct 2, 2009
    The tax revenue would pay for "infrastructure, environmental and social costs" resulting from increased gas drilling, it said. Rep. (Pittsburgh Post-Gazette, PA)

    Germany's Merkel earns mandate for change  Sep 30, 2009
    German unemployment and social costs are expected to rise in the coming 16 months says leading economist Henrik Enderlein. German banks may need further help, and he told reporters that "I don't think Merkel can deliver on this.". (Christian Science Monitor -- World)

    AFL is on the case to end binge drinking  Sep 26, 2009
    Excessive drinking creates financial, relationship, physical and mental health, cultural and social costs - and they are unacceptable. Risky drinking is a problem in Australia. (Sydney Morning Herald -- Opinion)

    Municipal Officials Told Video Gaming Succeeds in SD  Sep 26, 2009
    Mann cited a 1998 study of South Dakota gaming by Deloitte & Touche, which shows that the positive impact of video gaming on annual revenue outweighs the potential negative social costs. "In South Dakota, video gaming is second only to sales tax as a source of revenue," says Mann. (Yahoo! Wire -- Entertainment News)

    Economic Stability, Economic Cooperation, and Peace—The Role of the IMF, Remarks by Dominique Strauss-Kahn, Managing Director, International Monetary Fund  Sep 25, 2009
    Indeed, its human and social costs might get worse before they get better. This is especially true in low-income countries. (IMF News)

    Tea planters seek cover against FTA  Sep 22, 2009
    The IMC, in its report, estimated the social costs, which include medical benefits for tea estate workers, housing, and welfare activities such as schooling, to be around Rs 7 per kg of tea produced. The IMC had suggested that the Union and state governments intervene and share some of the social costs. (India Times)

    Border agents to get closer to the action with west Huachucas base (9)  Sep 21, 2009
    Independent wrote on Sep 20, 2009 12:55 PM:" Why doesn't the H/R have more coverage on illegal immigration? Because they are dependent upon ads and notices published by businesses (who hire illegals, particularly the housing and hospitality industry) and the City government all of whom support the Chamber of Commerce, a major defender of open borders promoted by businesses who don't want to be inconvenienced by hiring American workers when they can hire illegals at less cost, pay them off the... (Sierra Vista Herald, AZ)

    Energy bills 'unlikely to fall'  Sep 19, 2009
    " Scottish and Southern Energy - "With forward annual wholesale prices significantly higher, and with upward pressures in terms of distribution, environmental and social costs, seeking to avoid an increase between now and the end of 2010 is an important goal. " Scottish Power - "There are no immediate signals that would indicate a fall in retail prices for this winter, and risks of an increase next year. (BBC News -- UK)

    Company tax should not be cut  Sep 18, 2009
    It could make it more difficult to meet the rising social costs generated by our ageing population. Furthermore, many businesses are benefiting from the current stimulus spending. (Sydney Morning Herald -- Business)

    Out of sight, out of mind  Sep 18, 2009
    In fact, in 2003, the government of India's Inter-Ministerial Committee recommended that the social costs be equitably shared, with the plantation managements bearing 50% and the remaining 50% being borne by the central and state governments in the ratio of 40:10. The Tripartite Industrial Committee of the plantation sector met in 2005 and agreed on the recommendation. (India Times)

    * Ma ignores Constitution with new election plan  Sep 18, 2009
    How can such an overlapping, multi-layered system do anything to reduce social costs ... The rationale was to reduce the number of elections and their financial and social costs ... How can such an overlapping, multi-layered system do anything to reduce social costs. (Taipei Times, Taiwan -- Business)

    Conroy to host gaming forum  Sep 16, 2009
    This will be followed by a discussion of the potential benefits and costs of each type of gaming, including the number of jobs that may or may not be created in the Commonwealth, the estimated amount of revenue the state could expect, the cannibalization affect on lottery revenues for towns and cities, and the estimated social costs. The forum is intended to be interactive, so that questions and answers are part of the discussion throughout the evening. (Lincoln Journal, MA)

    Students, Professors Weigh In on Helath Care  Sep 15, 2009
    While many Americans may not perceive health care to be a crisis for them today, the economic and social costs of fixing the problem will increase substantially, particularly for young Americans who (believe it or not) will get older and sicker as time passes, Wayne said in an e-mail. Acting now is smart for tomorrow. (The Hoya, Washington DC)

    TUC rejects claims of UK recovery  Sep 14, 2009
    "I am so horrified when I hear the Conservatives talk of public expenditure cuts which would turn any progress towards economic recovery into a nose dive back into recession. Please turn on JavaScript. Media requires JavaScript to play. Brendan Barber says cuts would only promote recession "Here in this city which was so scared by the riots of the 1980s, let us remember the crippling economic and social costs of the Tory recessions and let us resolve: never, ever, again. " Meanwhile, the... (BBC News -- UK)

    WHO: School closure can slow down spread of A/H1N1 virus  Sep 12, 2009
    Governments should also take into consideration the economic and social costs of school closure when dealing with an outbreak, the WHO said. The main economic cost arises from absenteeism of working parents or guardians who have to stay home to take care of their children. (Xinhuanet, China)

    School closure most effective at start of swine flu outbreak: WHO  Sep 12, 2009
    As schools and health ministries weigh up the benefits of school closure in case of an outbreak, the UN health agency also pointed out that potentially high economic and social costs are tied to such a measure. Studies show that school closures can lead to the absence of 16 percent of the workforce as parents stay home to take care of their children, it said. (Yahoo! Asia News)

    Bhutan tells Japan how to be happy  Sep 10, 2009
    JYT: GDP is a measure of goods and services produced at a given period of time but does not in any way measure the environmental or the social costs [of development], leaves out the human aspect and focuses entirely on economic growth. IPS: But don't we need economic growth. (Asia Times Online)

    States that placed bets on gambling hit a losing streak  Sep 10, 2009
    Gambling's critics have long maintained that it provides short-term revenue at the expense of long-term social costs, like increased crime and addiction. But the new data also show that the revenue collected by states and local governments is decreasing while competition for it is on the rise. (News & Observer)

    * S Korean parliament battles loan sharks  Sep 9, 2009
    The amount owed to private lenders is relatively small, but lawmakers are worried about the wider social costs. Only about 5 percent of South Koreans use private lenders. (Taipei Times, Taiwan -- World Business)

    French PM warns of lingering economic risks  Sep 6, 2009
    Changes could include spending cuts Fillon warned that European governments will not be able to cover social costs or reduce public debt without a change of course. He called for "refocusing (EU) policies to serve growth and European competitiveness against a background of globalization, and restoring our public finances by means of a concerted plan" that included cuts in public spending. (MSNBC -- International)

    Bias against innovation  Sep 2, 2009
    Because the social costs and benefits cannot be easily measured, it is better to use the capital adequacy regime to address the problem. A more fundamental point is that the real systemic damage in this, as in most previous financial crises, is done not by financial instruments but by leverage one more reason to regard capital as the first and most important line of defence. (FT.com -- Markets)

    Did Pinochet kill or cure Chile?  Sep 2, 2009
    This "free-market fascism", as some called it, undoubtedly brought social costs in its wake, including a big rise in unemployment and an erosion of workers' purchasing power. But it also curbed Chile's rampant inflation, slashing rates from 1,000% a year to about 10. (BBC News -- Americas)

    Schools around globe mullclosures  Aug 31, 2009
    "The huge economic and social costs of closure might not seem so bad if the virus causes more deaths later.". For some parents, the inconvenience of school closures is worth the chance to spare their kids swine flu. (MSNBC -- Health)

    'Jobless recovery' won't work  Aug 30, 2009
    Though unemployment may only affect a small minority of the population, the social costs are huge. In this recovery, government and the private sector must partner to retrain millions of workers and rebuild our crumbling infrastructure. (NJ.com -- Times)

    * What next for the disaster zones?  Aug 24, 2009
    In the present situation, it would not necessarily be a good thing to relocate all such students to northern Taiwan because relocation far from home entails greater psychological and social costs than finding space in neighboring towns or villages. The fifth task is the short-term resettling of displaced people. (Taipei Times, Taiwan -- Business)

    Mental illness, insidious enemy of development  Aug 24, 2009
    What is more worrying is the staggering economic and social costs associated with mental health. For example, WHO estimates in 20 02 showed that 154 million people globally suffered from depression and 25 million from schizophrenia, while 91 million people were affected by alcohol use disorders and 15 million by drug use disorders. (Ghana Web, Ghana)

    The Conversation: Conditions ripe for climate change brawl  Aug 16, 2009
    Regionalism has also played a role; community activists voice the belief that rural communities would bear the social costs of projects intended to benefit distant cities. Conservation groups such as Ducks Unlimited and the California Waterfowl Association were among organizations that opposed the TANC project over concerns that it would affect wetlands and wildlife habitat. (Sacramento Bee -- Opinion)

    * Congress de-greening Obamas climate policy  Aug 12, 2009
    The textbook solution for dealing with negative externalities is to use the tax system to align private incentives with social costs and benefits. Suppose the government imposed a tax on carbon-based products and used the proceeds to cut other taxes. (Taipei Times, Taiwan -- Sports)

    Reading “Caritas in Veritate”: Notes on Chapter Four  Aug 10, 2009
    The consequent duties have political dimensions as well as individual ones: it is incumbent on technologically advanced societies to reduce domestic energy consumption to allow the distribution of resources to developing countries that lack them; on political authorities to ensure that the economic and social costs of using up shared environmental resources are recognized with transparency and fully borne by those who incur them, not by other peoples or future generations (sec. 50); and on... (The American Conservative)

    Schools urged to stay open inoutbreak  Aug 8, 2009
    "It's a balancing act. When you close a school, you have real social costs," Frieden said. As the virus spread to students last spring, more than 700 schools in half the states temporarily closed their doors. (MSNBC -- Health)

    CDC Says H1N1 Outbreak Shouldn't Close Schools  Aug 8, 2009
    Balancing the social costs of widespread school closures including the risk of unsupervised children at home against the potential health risks of remaining open, government officials advised schools to not shut down in most cases. "If there are a handful of flu cases in a school, the real goal is to keep the school open," Secretary of Education Arne Duncan told reporters at a press conference also attended by Secretary of Health and Human Services Kathleen Sebelius, Secretary of Homeland... (Time.com)

    Read Hannity's America  Aug 6, 2009
    Many jurisdictions simply cannot afford the monetary costs of focusing exclusively on incarceration to say nothing of the social costs associated with high rates of imprisonment. (END VIDEO CLIP). (Fox News)

    Remarks as Prepared for Delivery by Attorney General Eric Holder at the 2009 ABA Convention  Aug 4, 2009
    Many jurisdictions simply cannot afford the monetary costs of focusing exclusively on incarceration, to say nothing of the social costs associated with high rates of imprisonment. So what can we do to lower the crime rate further, to make American communities safer, and to get smarter on crime. (PR Newswire)

    Country profile: China  Aug 3, 2009
    Some Chinese fear that the rise of private enterprise and the demise of state-run industries carries heavy social costs such as unemployment and instability. Moreover, the fast-growing economy has fuelled the demand for energy. (BBC News -- Asia-Pacific)

    REGION: Domestic violence cuts leave shelters scrambling  Aug 1, 2009
    "State funding to domestic violence programs has been proven to save lives, and also millions of dollars in health care, law enforcement and other social costs," Shabazz said. At the Community Resource Center in Encinitas, Executive Director Laurin Pause said the cut in state support comes as the incidence of domestic violence is increasing as a result of economic pressures from the recession. (North County Times)

    Achieving Our Millemium Goal.  Jul 20, 2009
    The country as a result is not benefiting from investments in the mining sector due to gross disregard for externalities and other social costs. Efforts should therefore be made by this and future governments to retrieve the information for the subsequent aggregation and or reconciliation. (Ghana Web, Ghana)

    Young Hit Worst by British Joblessness  Jul 18, 2009
    Concern about the economic and social costs of supporting a lost generation of "neets" those not in employment, education or training schemes continues to grow. Poignantly, those now leaving school aged 16 and trying to find work or in further education to avoid unemployment will have started primary school in 1997. (BusinessWeek)

    Transcript of a Press Briefing by Caroline Atkinson, Director, External Relations, IMF  Jul 17, 2009
    We have been particularly concerned to avoid social costs that could be involved in some of the measures that have been under consideration and to help the authorities to protect the most vulnerable. But, as you know, there s a broad consensus amongst all the parties involved about the goals of the Latvia program, and we re having productive discussions. (IMF News)

    Letter: MBTA fare increases will only hurt us  Jul 16, 2009
    Again, I encourage both of you to do what you can to assist your constituents who utilize mass transit and for all your constituents who will suffer from the social costs imposed by the proposed fare increases. Neil Alper Brookline Street. (Needham Tab, MA)

    Skin cancer's secret 'revealed'  Jul 16, 2009
    Lead researcher Dr Scott Byrne said: "The economic and social costs of treating skin cancer are enormous. Some skin cancers will spontaneously regress while others will continue to grow and possibly metastasise (which may be fatal).". Doctors don't yet understand why some tumours u 00004000 ndergo regression and others continue to grow, but Dr Byrne's team has discovered that the immune system is critically involved in the recognition of tumours and their destruction. (India Times, India)

    Obama Jobless Safety Net Torn by New Normal's 48-Year-Old Rebecca Alvarez  Jul 11, 2009
    Unemployment also has immense social costs, said , senior lecturer at the University of California in Irvines Department of Psychology and Social Behavior. Bouts of unemployment have been associated with increases in depression, reduced self-esteem, and increases in alcohol abuse, she said. (Bloomberg)

    Glendale chamber opposes casino  Jul 11, 2009
    Others said they are concerned about the social costs that come with gambling addiction. And some still weighed the idea, even after the tribe's presentation. (AZCentral -- News)

    Remarks as Prepared for Delivery by Attorney General Eric Holder at the Vera Institute of Justice's Third Annual Justice Address  Jul 10, 2009
    To begin with, high rates of incarceration have tremendous social costs. And, of course, there also is the matter of simple dollars and cents, and the principle of diminishing marginal returns. (PR Newswire)

    Leaders of the Group of Eight (G8) industrialized countries and five major developing countries agreed on Thursday to reform financial institutions, boost development and conclude the Doha Round trade talks.  Jul 10, 2009
    Concerned by the high social costs of the crisis in terms of unemployment and poverty, they are committed to tackle the social dimension of the crisis, putting people's concerns first. Chinese State Councilor Dai Bingguo (R), on behalf of Chinese President Hu Jintao, walks to attend a meeting between leaders of the G8 countries and six developing countries, in L'Aquila of Italy, July 9, 2009. (Xinhuanet, China)

    * Gender dominates the sex industry  Jul 6, 2009
    The social costs of health issues and the spread of sexually transmitted diseases means the sex industry is potentially even more harmful to women than drug use. I am afraid the implicit gender domination will be overlooked if mainstream thinking advocates total legalization and decriminalization of the industry just because a few brave women unwilling to change occupations and wanting to be professional, licensed prostitutes have stepped forward. (Taipei Times, Taiwan -- World)

    Press Release: IMF Executive Board Approves US$144.1 Million Disbursement for Cameroon  Jul 3, 2009
    In the absence of appropriate social safety nets, the social costs of the downturn could be severe. Against this background, the authorities efforts to deal with the effects of the crisis with Fund support under the rapid access component of the Exogenous Shocks Facility are welcome. (IMF News)

    Funding for Head Start a productive use of public money  Jul 3, 2009
    The study concluded that, for every dollar invested in Head Start, taxpayers stood to save an estimated 7 in social costs that might otherwise accrue. Have something to say about this story. (Longview Daily News, WA)

    Guest opinion: Tming right for energy bill  Jun 30, 2009
    The social costs of slavery were more widely recognized, and instead of societal collapse, a long span of prosperity was experienced. Nowadays our slaves are in the form of fossil fuels. (Montana Standard, MT)

    Viewpoint: Anti-Union is Bad for Business  Jun 25, 2009
    Moreover, our communities are freed of the health and social costs generated by economic distress. Again, unions provide the most effective mechanism for protecting workers' compensation and security. (BusinessWeek)

    WB chalks out $500 mln for pandemic flu prevention  Jun 3, 2009
    "The Bank's decision today will expand the GPAI to allow the Bank to 'fast-track' emergency A/H1N1 financing to low, and middle-income countries to buy drugs, medical equipment and supplies, to pay for hospital care and public information campaigns, to strengthen human and livestock health surveillance, and help to blunt the economic and social costs associated with pandemic flu," said the World Bank in a statement. "This is a particularly bad time for a pandemic to occur given that developing... (Xinhuanet, China)

    Charge drivers for when and where they go  May 31, 2009
    Social costs of Australian road congestion will rise to $20. 5 billion by 2020 - with Sydney accounting for $7. (Sydney Morning Herald -- Australia)

    Fiat Waiting for Clear Decision on Opel Aid  May 30, 2009
    Fiat proposed a plan for Opel that will limit the social costs of the integration process while delivering "significant synergies" derived from the sharing of platforms, related components and power-trains, he said. Presumably, that means that Fiat will attempt to keep job cuts to a minimum, a key consideration for the German government, which faces elections later this year. (SmartMoney)

    Shireman: Climate Solutions Must Be Real, Not Just Perceived  May 28, 2009
    In 1992, the Congressional Budget Office reported: That change would not only reduce gasoline consumption, but it would also lower other social costs of driving, such as traffic congestion and the frequency of accidents. In contrast, higher CAFE standards would tend to encourage driving (by lowering the per-mile cost) and would thus increase those social costs. (Roll Call)

    A vicious cycle of state control  May 25, 2009
    But his thoughts on the growing administrative and social costs of preserving the Communist Party's monopoly on political power in the internet age, the economics of modern dictatorship, deserve a wider audience. The following is extracted and edited from recent lectures and local media commentaries. (Sydney Morning Herald -- Business)

    Adjusting to economic changes can be difficult but necessary  May 25, 2009
    The demands of the marketplace have to be adequately factored in if economic growth is to be sustained and social costs minimised. The impact can be tearful to some who have been used to easy times. (The Star Online, Malaysia -- Business)

    Somerville's senators vote yes on a $27.35B budget, yes on making sales tax 6.25%  May 25, 2009
    They argued that the projected revenue and job creation estimates are excessive and do not take into account increased financial and social costs from public safety problems, increased traffic and compulsive gambling. Some said that this major proposal does not belong in the budget and should be considered as separate legislation that goes through the legislative process including public hearings. (Somerville Journal, MA)

    U.K. Put On Notice Debt Rating At Risk; Will U.S. Be Next?  May 23, 2009
    It said huge bailouts, soaring social costs and plunging tax revenues could push Britain's sovereign debt to nearly 100% of GDP.. Many investors quickly noted that the U.S. is on a similar path. (Investors Business Daily)

    US court backs '06 tobacco ruling  May 23, 2009
    Kessler found that the companies "marketed and sold their lethal product with zeal, with deception, with a single-minded focus on their financial success and without regard for the human tragedy or social costs that success exacted.". The judge ordered the companies to stop delivering misleading or deceptive statements about smoking. (Boston Globe)

    Legalize marijuana? Not so fast.  May 23, 2009
    No one has figured out what the exact social costs of legalizing marijuana would be. But ephemeral taxes won't cover them nor should society want to encourage easier access to a drug that can lead to dependency, has health risks, and reduces alertness, to name just a few of its negative outcomes. (Yahoo News)

    Overcoming the Great Recession An Address to the Japan National Press Club, Remarks by John Lipsky, First Deputy Managing Director of the International Monetary Fund, at the Japan National Press Club, Tokyo, May 18, 2009  May 19, 2009
    As the crisis unfolded, the IMF has been helping emerging markets most notably in Central and Eastern Europe with large financing packages to help overcome financing constraints, and to mitigate the economic and social costs of the crisis. In a world of high-volume capital flows that can change course swiftly, IMF financing packages must be large enough to make a difference. (IMF News)

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