Biomedical Engineering Reference
In-Depth Information
Engineers
versus
Economists
As discussed in the previous chapter both engineers and social scientists, especially economists,
certainly seek maximum utility and usefulness of their projects, but their approach in these matters
differs. For the economist, the task can be viewed from two perspectives. First, economics considers
the aspect that deals with the distribution of goods and services and management of economic
systems. Economists see utility, at least in part, as a means of finding the best way to allocate
scarce resources. When they find the best solution to any problem of allocation or distribution,
they have reached what is known as Pareto optimality,
20
the point at which no one else can be
made any better off without making someone else any worse off.
Risk taking to push
technological
envelope
Acceptable
design domain
Precaution to
protect health and
welfare
A
B
Figure
3.6
Span of control for the engineer. Diagram A represents an engineering problem with large tolerances. The
domain for acceptable design is large. Diagram B represents a problem with tight tolerances, with the domain for design
acceptability much smaller. Diagram B problems do not allow as much risk taking, so creative solutions are more difficult,
but arguably even more necessary than those represented by Diagram A.
Second, economists' decisions are focused primarily on a specific business and often consider
the perspective of a firm or the individual making economic decisions. How do we optimize our
profits, or lower our individual costs? Here, the goal is to make ourselves or our individual firms
as well off as we can, given the constraints. In this view, the principal concern is not the degree to
