Re: TownHall.com – 2/20/2008 – “Costs vs. Benefits” – Walter E Williams

While agree 100% with Williams’ basic premise on cost vs. benefits, I disagree strongly with the cost/benefit analyses he presents.

William’s first serious mistake is that he sees costs in a very limited way. He thinks that the “costs” of 9/11 were the “value” of lives and property lost. Unfortunately that vastly underestimates the true costs of 9/11. The major costs of 9/11 were the “value” of the fear it instilled in us. As a direct result of 9/11 fear we engaged in an expensive war in Afghanistan and then as an indirect result a war in Iraq, with a loss of life and an expenditure of financial resources far in excess of the physical damage to a few blocks of NYC and Washington DC real estate. We increased expenditures on anti-terrorism measures including airport security and the creation of a top-level bureaucracy to oversee the operation of a bunch of existing federal agencies. The transportation industry, especially the airlines, was devastated by potential travelers’ fear of terrorism. And under the fear of terrorism, we allowed infringements on our personal liberties that we would never have allowed without 9/11.

Williams’ thoughts on organ transplant, if serious, are misguided. Using the same reasoning, he should support legalization of prostitution --- after all, isn’t the prohibition of prostitution just an infringement of the right to lease your body parts for financial gain? Williams also seems to miss the fact that controlling the supply of body parts for transplants is the best (and perhaps only) way to fight criminal harvesting of body parts from unwilling donors. I guess Williams just isn’t tough enough on crime.