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Freakonomics Radio

Here’s Why All Your Projects Are Always Late — and What to Do About It (Rebroadcast)

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.632K Ratings

🗓️ 23 May 2019

⏱️ 42 minutes

🧾️ Download transcript

Summary

Whether it’s a giant infrastructure plan or a humble kitchen renovation, it’ll inevitably take way too long and cost way too much. That’s because you suffer from “the planning fallacy.” (You also have an “optimism bias” and a bad case of overconfidence.) But don’t worry: we’ve got the solution.

Transcript

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0:00.0

Hey there, it's Stephen Dubner. This week from our Archives episode number 323.

0:04.8

It's called, Here's Why All Your Projects Are Always Late and What To Do About It.

0:09.0

Hope you enjoy.

0:12.8

In 1968, just over 50 years ago, the governor of New York State Nelson Rockefeller

0:18.2

received a proposal he'd commissioned. It addressed the mass transit needs of the New

0:23.4

York City area. One center piece of the plan was a new subway line that would run

0:27.3

from Lower Manhattan up the east side and into the Bronx. It was called the Second

0:31.8

Avenue Subway. Four years later, Rockefeller and New York City Mayor John Lindsay held

0:38.0

a groundbreaking ceremony for the Second Avenue Subway, but not long afterward, the project

0:43.1

was shelved because of a fiscal crisis. Years later, a new governor, Mario Cuomo, tried

0:48.7

to restart it, but once again, the budget would not allow and back it went on the shelf. By

0:54.8

now, the Second Avenue Subway had become a punchline. New Yorker would promise to pay back

0:59.4

alone once the Second Avenue Subway was built. It came to be known as the most famous thing

1:04.4

that's never been built in New York City. But then, along came a man named Michael. Here,

1:11.9

I'm going to let him say it.

1:13.9

Michael O'Rodney-Chiano, if you look to see how people on Second Avenue would recognize

1:20.2

me as Dr. H. No one is really willing to pronounce my last name.

1:25.6

Okay, let's go with Dr. H. He is a longtime transportation scholar and executive. In 2008,

1:32.8

he became president of capital construction for the Metropolitan Transportation Authority.

1:37.9

And one of the first things he did was restart the Second Avenue Subway. By now, it was

1:43.0

40 years since Governor Rockefeller's original proposal. Dr. H updated the budgets and estimates

1:49.3

and finally got construction started. In 2010, a massive tunnel-boring machine began

...

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