The approach offered by these authors is to convert all the outcomes to monetary terms, thus rendering everything as a nail. Such an approach will hardly find universal appeal. Sustainability is a fashionable objective of many agricultural research agencies. Sustainability is not only difficult to define, it is also difficult to measure in today's, tomorrow's or the next generation's dollars. Also missing from the economists' toolbox is a useable tool to handle uncertainty.
Research is plagued by uncertainty.
Despite the importance of uncertainty, the authors give little attention to how this should be accommodated in the prioritisation of projects. It is intended, by the authors, to be of direct interest to research administrators. Anybody seeking tools to use in the evaluation of research should take the opportunity to examine what economists have to offer. When reading the book, my grandfather's wisdom should also be kept in mind - especially the thought that people in glasshouses should not throw stones. Any claims made by authors in the Australian New Crops Newsletter are presented by the Editors in good faith.