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Politics : Politics of Energy
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To: RetiredNow who wrote (5518)3/1/2009 3:33:32 PM
From: enginer  Read Replies (1) of 86355
 
The true cost of anything seems to depend on whether or not the accountant (or his masters)is in favor of it.

Usually the masters are kleptocrats who know which side of their bread the butter is on.

It is odd that our best examples are the growth of the Crown Companies, the Western Railroads, the National Highways (to replace the railroads) and the Banking industry.

The growth of the Internet is an exception, but I have been told that the cost accounting there was lacking because the accountants were too busy on XXX-rated websites.

Because the risk models failed, the credit crisis can probably be blamed on Managers (read Paulson) and MBAs. The cost remains to be assessed. There will NOT be a positive cost-benefit ratio except for the very few (IMHO).
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