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Thursday, January 29, 2015

Too Much Adaptation?

I was in Manhattan on Monday night as the big snow storm got ready to hit.   The Subway was closed and all vehicles were ordered off of the roads as of 11pm that Monday night.  These stringent measures turned out to be too stringent. Roughly 6 inches of snow landed and this stuff was quickly swept away.   How costly was it for the city and its residents to have their lives disrupted for a day?  On the production side, can the lost output be produced at other times?  Yes.  How about the value of the "home production" of spending an extra day with your family? I was snowed in with my mom and dad and we had a great time. For parents with young kids, did they go sledding that Tuesday?  Did they enjoy the experience? This pleasure (which is hard to quantify) needs to be subtracted from the economic costs to yield the true cost of the "lost day".    Better safe than sorry so I see the day of lost work as no big deal.    The challenge of storm tracking does raise a "Chicken Little" issue of whether people will listen to the Mayor the next time he states that the end is near.  Credibility is hard to earn and hard to maintain.