This goes to the heart of my concerns about grand government schemes, whether to rapidly stimulate the economy or take over the hospital system. Or indeed in designing what could be the greatest boondoggle in human history, the emissions trading scheme (which financial institutions and insurance companies are just rubbing their hands in anticipatory glee over, with Lehman Brothers busily positioning itself to make an expecting killing on such schemes before it went down the gurgler, as was Enron.) One question I always ask people is "when was the last time you saw the government do something efficiently and well, on time and on budget, and which achieved its aims without unforeseen and unfortunate unintended consequences?" Not only are the houses not yet built, each costs the price of the grandest mansion:
At $2 million a house, and with huge delays, we must conclude: 1. Building welfare ghettoes in the far outback is a money-eating extravagence, even ignoring the often toxic results. 2. Government money is involved. |
Monday, July 27, 2009
Two million dollars per house?
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