Thursday, February 28, 2008

Let's Just Be Blunt

Economist Walter Williams on Costs vs. Benefits. I love the bluntness.

The National Highway Traffic Safety Administration reported that there were 43,443 highway fatalities in 2005. If we had a maximum speed law of 15 mph, the death toll wouldn't be nearly as high, probably not even as high as 500. You say, "Williams, that's a crazy idea!" You're right, but let's not call it crazy; it's more accurate to say: saving some 43,000 lives aren't worth the cost and inconvenience of a 15 mph speed limit.

The biggest problem in America today is not nearly enough people understand this sort of basic economic thinking.


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