Who'd have expected it? Me. Study Finds Steady Overruns in Public Projects:
"No learning is taking place among the professionals doing these budgets," Mr. Flyvbjerg said.

"Either the people who do the budgets are incredibly stupid, but this is highly unlikely," he added. "The other possibility is they manipulated the budgets to make sure the projects are approved."
Public property: bad. Private property: good.

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