In economics and decision-making, a “sunk cost” is a cost that has already been incurred and cannot be recovered. Sunk cost is the mistaken principle that in any moment of time, the best thing to do is to keep going forward because so much time and energy has been spent already. Past mistakes are not taken into account.
It seems as if Mayor Pro-tem Dean Brookie is operating under this fallacy. Referring to the unsightly and incredibly expensive bridge ($4.1 million?) across the Animas River to provide bicyclists an access that avoids waiting a few moments for a street crossing, Brookie says, “This is critical to accomplish.”
We just need to get it done. It’s budgeted. Let’s do it.
This is such poor critical thinking.
At any moment in time, the best thing to do is to make decisions based on current reality. Past mistakes are irrelevant – you might say, water under the bridge.
Why keep pushing forward? Isn’t it your job, City Council members, to listen?
We should not let sunk costs influence our decisions. Let’s get some thinking that responds to the will of the people and not politicians who want to spend money because they will lose it if not used.
Mimi FrenetteDurango
