Episode 234: Errors We Repeat in Economics
Words & Numbers
00:00
Is There a Cost Overrun?
Politicians often say a program is going to cost X, and of course the numbers are typically reasonable. But now apparently, not only is it way more expensive, but it's traveling a much shorter distance. The construction of the Erie Canal in the early 1800s went 46% over budget. And let's be clear about the Erie Canal: That actually paid for itself over time.
Transcript
Play full episode
