The Social Value of New Technology
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The Social Value of New Technology

Edited by Albert N. Link and John T. Scott

New technologies, with their practical contributions, provide social value. The chapters in this volume view this social value from a program evaluation perspective, and the focus of the evaluations is the generation of new technology funded by public sector agencies. The authors provide important background on methodology and application and show that it is relevant not only to the established scholars and practitioners, but also to students.
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Chapter 2: AN ECONOMIC EVALUATION OF THE BALDRIGE NATIONAL QUALITY PROGRAM

Albert N. Link and John T. Scott

Abstract

All federal programs are accountable for their use of public funds. This paper presents conservative estimates of the net social benefits associated with the Baldrige National Quality Award Program, established within the National Institute of Standards and Technology in 1987. On the basis of survey data from members of the American Society for Quality, we estimate cost savings benefits to members, extrapolate those benefits to the economy as a whole, and compare the benefits to the social costs associated with the Program. Our estimation method implies that the ratio of economy-wide benefits to social costs probably exceeds 207:1, supporting the hypothesis that the public investments in quality-standards infrastructure are worthwhile.

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