bilby
Fair dinkum thinkum
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- Mar 6, 2007
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It may very well be the wisest use of current money.Whereas defunding a project halfway through, with a bunch of new viaducts and tunnels and land now owned by the state now serving no purpose... that's using money wisely?
The money already spent ain't coming back under any circumstances.
If you are sure that you are halfway through, then finishing the job maybe makes some sense. But it seems that in fact this project is an unknown distance along its path to completion. Nobody knows that spending as much again will be sufficient; Maybe it will be ten times as much again. Or a hundred.
The problem seems to be that there's no way for the Government to ride roughshod over the landowners whose property they need to obtain; And that the existing freight railways have entrenched rights that they can wield to prevent even the tiniest of disruptions to their business in the interests of advancing the project.
That's the legal framework your state has to work within. In China, they would just tell everyone whose house, apartment, warehouse or factory stands along the line of the new project "Your place is being bulldozed tomorrow, here's a token compensation. Try not to be inside when we knock it down".
If you want the benefits of democracy, property rights, and rule of law, you need to put up with the problems that causes, such as not being able to build rail infrastructure at less than ruinous cost.
Given that the costs are vastly more than anticipated, and are still snowballing, it is time to remember that the sunk cost fallacy is a fallacy, and that the sooner you get out of the game, the less money you will lose.