New approach to calculating social benefits

UNSW researchers have proposed a new way of calculating returns on government investment, to include social benefits as well as economic benefits. 

‘Social return accounting’ allows many projects that do not yield sufficient economic returns to be favourably considered for funding. Social Return Accounting delivers a principled way to measure the return on social investments of all kinds—ranging from physical infrastructure to social insurance schemes, which would allow all government investments to be evaluated on a level playing field.

http://research.economics.unsw.edu.au/richardholden/assets/social-return-accounting.pdf