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Originally Posted by bomberjet
^^ On the flip side. Lights on the Perimeter are completely unsafe. Peoples time (my time) is worth more than any kind of money. I would rather pay more to have better service.
On the business end. In theory, if truckers are able to move faster through the Province/City. They will be able to do another trip sooner. Which provides greater efficiency on the clients (goods providers) end. Which will speed up the pace of business, which will generate more tax dollars for the Province to invest back into infrastructure, education, etc. In theory. One of those cyclical type things. IMO.
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I agree, many interchanges would increase the amount of money capable of being made by business, and some might pay off, I was just showing that it is more complex than what most people make it out to be, and finding a correct answer isn't easy.
As for the bolded statement, how do you attribute economic value to an individuals time? Let's say, for example, the Plessis underpass... The time loss waiting for a train is one of the justifications, but how does 1 second equal any amount of money (specifically for the government).
I am not very well spoken as others, so I'll just quote someone else:
Quote:
Originally Posted by Chuck Marohn, Strong Towns
By far the biggest "benefit" said to be realized by the Staples overpass project is time savings by those that today must wait to cross the railroad tracks and highway. From the Staples application: Additionally, time is money! Based on anticipated traffic volume on the new corridor, travelers will save over 3.4 million hours of travel time which equates to a Present Value of Time benefit, over the 20 year study period, of over $47 million.
So the people of Staples will not have to wait at the train crossing and this time saved equates to $47 million in savings.
Before we look at the numbers, pause for a second and understand that 85% of the benefits of the project - in dollar terms - is people saving time in traffic. There is no direct or indirect financial return to the government for this savings. Sure, the application argues that the "delays have a direct impact on the productivity of our local businesses and schools", but nobody is arguing that this increased productivity will result in $47 million in increased sales, income and property tax receipts. Or any real increase. The time savings is a purely social benefit for the people of Staples who will now enjoy reduced travel times from the construction of the overpass.
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While this is about a project in Staples, MN, the same can be said about any interchange/overpass that says "time savings" is worth some sort of economic value.
EDIT: While I agree an individuals time is worth a lot to them, you can't say it's an economic benefit for the government, it is a strictly social benefit and will not pay anything back to the government.