This volume investigates the application of benefit-cost analysis as a rigorous framework for evaluating public policy decisions and forecasting economic outcomes. Edited by Robert H. Haveman and a team of contributors, the text compiles scholarly research and practical methodologies to bridge the gap between theoretical economic models and the realities of government decision-making. It argues that systematic evaluation is essential for the efficient allocation of public resources in an increasingly complex administrative landscape.

Experts recognize this annual as a foundational collection for understanding the state of policy analysis during the early 1970s. Readers frequently note the academic density of the prose, which serves as a primary reference for students and practitioners of public administration.