Principle of economic practicle

Life and Work Rawls was born and raised in Baltimore, Maryland. His father was a prominent lawyer, his mother a chapter president of the League of Women Voters. Rawls studied at Princeton, where he was influenced by Wittgenstein's student Norman Malcolm; and at Oxford, where he worked with H. Hart, Isaiah Berlin, and Stuart Hampshire.

Principle of economic practicle

You do not crowd-source a mega dam. The fact that this even needs to be said is embarrassing, to say the least. Just consider a few questions that arise when trying to use voluntary donations to fund the Diamer-Bhasha dam, whose cost has been given as Rs1.

This figure is taken from a briefing given by water and power officials at a hearing of the Senate Standing Committee on Planning, Development and Reform.

The cost of reservoir construction was given as Rs billion, and the rest for power turbines and associated infrastructure, and land acquisition and resettlement. As of writing, the total amount deposited in this account was Rs32 million.

For the moment, if we assume that on average, the account sees an inflow of Rs20m per day which is highly optimisticthen it will take 72, days to reach the target, or years. Public finance is not a joke, the state cannot be run like a charity, and infrastructure finance cannot be crowd-sourced like this.

Wait a minute, some people will say. All the money does not need to be available up front in order to begin work! For next year, the amount allocated for construction of the dam part of the project alone is Rs Now do the math. At Rs20m per day, it will take 1, days to reach the target of Rs You can change the assumptions.

Mind you, the calculations here assume an average contribution rate of Rs20m per day, every day, for years and years on end. How long will the momentum behind this endeavour sustain itself? Before people are asked to contribute their hard-earned money for any cause, they are entitled to ask a few basic questions.

What will this money be used for? Who will have the authority to transact these funds? What rules will govern its distribution? How much of an impact will my contribution have? Perhaps these questions ought to be answered first.

For example, will the money from the account be disbursed directly to the point where the costs are coming from, or will it simply be handed to Wapda, the water and power division, or the finance ministry?

If a technical consultant needs to be retained to advise on what type of cement to use given the extremely large annual temperature variation in the region, and the attendant expansion and contraction that the dam structure will undergo in a typical year making the choice of concrete quite crucial, who will decide which consultant is most suitable for the job?

What criteria will be used to make the selection? There are thousands of such decisions that have to be made in mega projects of this sort. What are the rules of business according to which these funds will be distributed? If the plan is to simply hand them over to Wapda, who will supervise the funds to ensure their proper utilisation?

How much expertise and experience does that person have in the execution of giant, highly technical projects of this sort? This is not the first time that a joke has been made out of a very serious matter. That too ended in an embarrassing whimper.

Principle of economic practicle

The television ads asked everyone to contribute one rupee a day, which the ad promised would be used for development purposes.

And that was also that.Both an introduction to economic principles as they relate to building design and a practical guide to putting these principles to effective use.

It brings together a variety of specialized topics relevant to building economics, including cost estimating, life cycle costing, cost indexes, capital budgeting, decision analysis, and real estate feasibility analysis.

Why the Focus on Principles?

The writer is a member of staff. ONE can appreciate the chief justice of Pakistan’s sensitivity to the growing water crisis in Pakistan, but with all due respect this is not how infrastructure.

An introduction to the practice of cost-benefit analysis including practical examples to aid the exposition. We use cookies to enhance your experience on our website.

By continuing to use our website, you are agreeing to our use of cookies. Part III The Practice of Economic Geology. 5 Geological concepts and methods in the mining cycle: exploration, exploitation and closure of mines. Synopsis. Economic Considerations.

The Search for Mineral Deposits (Exploration). Development and Valuation of Mineral Deposits. Mining and the Environment. FEE has designed an outstanding course featuring fun, engaging material which introduces students to the basic principles of economics while showing them the practical application of the subject matter beyond the classroom.

The key principle of sustainable development underlying all others is the integration of environmental, social, and economic concerns into all aspects of decision making. All other principles in the SD framework have integrated decision making at their core (Dernbach J.

C., ; Stoddart, ).

Definition of Sustainability