The first step is to measure whatever can be easily measured. This is okay as far as it goes. The second step is to disregard that which can't be measured or give it an arbitrary quantitative value. This is artificial and misleading. The third step is to presume that what can't be measured easily isn't very important. This is blindness. The fourth step is to say what can't be easily measured really doesn't exist. This is suicide (Daniel Yankelovich in Smith, 1972, p. 286).
KeywordsEconomic Policy Blindness Fourth Step Human Cost
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