Writing “One of the Biggest Threats to America’s Future Has the Easiest Fix” with Noah Smith about capital budgeting inspired the seminar presentation I am giving today at the Congressional Budget Office, Here is a link to my Powerpoint file for the presentation:

The Applied Theory of Capital Budgeting

It is quite technical, and is a work in progress. If you do want to brave it, I recommend that you first read "One of the Biggest Threats to America’s Future Has the Easiest Fix.“

Update: I learned today that the Congressional Budget Office put out a document on "Capital Budgeting” in 2008. I hope they now put out a new document on capital budgeting!