ABSTRACT

This chapter discusses the rationale for including economic damages and attempts to clarify issues of defining what can be included in an economic and social damages ranging and why it is important to consider economic damages along with health and ecological risk. It examines the most important data gaps within welfare rankings. The chapter outlines the issues that need to be addressed by such a group and suggests a proper manner for completing a welfare ranking in the interim. Discussions on the use of a societal welfare ranking should be concerned with broad issues of policy, as well as the validity of current methodologies and data. A variety of rankings, mainly moderate/high or moderate/low, have been given to the economic losses from ground water contamination. Economic data and analysis has a role in comparative risk projects. The political and legal history of the conservation and environmental movements have underlined the importance of economic welfare and protecting common resources.