Originally Posted by Semtex
Really don't want to hijack, but are you arguing the government doesn't conduct cost/benefit analysis? That's just plain wrong.
I'm arguing they have no basis to do so correctly. They can't value the opportunity costs or the benefits, which are subjective and highly dispersed. They also have no incentive to do so correctly. For example, who would give their boss a cost/benefit analysis recommending that the project they are in charge of be scrapped?