Too Many Public Works Built on Rosy Scenarios: Virginia Postrel
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July 8 (Bloomberg) -- “Infrastructure” may be one ofthe least glamorous words in the English language, but withthe right touch the concrete and steel of roads, bridges,tunnels, dams and railroads can look as alluring as a moviestar. Witness the sleekly seductive illustrations producedfor today’s California High-Speed Rail Authority or themidcentury pictures of effortlessly flowing superhighways,a genre that reached its apotheosis in Walt Disney’s “MagicHighway U.S.A.” in 1958.
This glamorizing extends not just to imagery but alsoto forecasts. Project promoters routinely overstatebenefits and understate costs -- and not just a little bit.