While imperfect, economic benefit-cost analysis should be the basic test of the viability of a development project and thus should be a principal criterion for project evaluation

“While imperfect, economic benefit-cost analysis should be the basic test of the viability of a development project and thus should be a principal criterion for project evaluation.” Do you agree or disagree? Discuss critically.
“William Easterly has argued that technocratic, top-down approaches to development planning, such as embodied in the UN Sustainable Development Goals (SDG), are prone to failure, whereas a market-driven, laissez-faire approach to development policy is more likely to succeed, when looking at criteria such as economic growth or poverty reduction.” Do you agree or disagree? Discuss critically.
“Joseph Stiglitz has quipped that Adam Smith’s ‘invisible hand’, which purportedly ensures that the decentralized behaviour of individuals in the market system leads to the social good, is invisible, because it doesn’t actually exist.” Do you agree or disagree? Discuss critically.

James Dean has argued: “Globalization has brought macroeconomic prosperity and growth to every country that has embraced it. It has also brought puzzles and paradoxes. Many of these paradoxes arise because within the macro- economy, some benefit more than others. Other paradoxes arise because a society that abruptly elevates material greed to the top of its moral sentiments begins to fear it will lose its religion, or its culture or its identity. If we are to harness the power of globalization for good, it is crucial that we understand these paradoxes. It is crucial we think hard and creatively about how to mobilize our unprecedented prosperity toward those who are left behind, or toward those who believe their cultures are jeopardized.” Do you agree or disagree? Discuss critically.
James Dean and Vivek Dehejia have argued: “Globalisation has always threatened localism. Localism is, in effect, the antithesis of globalisation. And democracy — meaning rule by the people – tends to vote for local interests, or at most national interests. So we should not be surprised that localism – or at least nationalism – seems to be breaking out all over the planet.” Do you agree or disagree? Discuss critically.
“More than other recent world events, such as 9/11 or the global financial crisis, the ongoing global COVID-19 pandemic is likely to tilt decisively the balance away from the market and back toward the state for many years to come rather than just transitorily.” Do you agree or disagree? Discuss critically.