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Thursday, December 30, 2004
Tsunami Warning
Well, Margaret was spot on -- a few hours after I read her post, I read a columnist in the NY Daily News bemoaning the fact that there was no warning system in place. What people neglect to consider is that there is a cost for every precaution one takes, and that it is trivial, once a disaster has taken place, to judge that it would have been worthwhile to have had a warning system in place for that event, it is quite another matter to wisely allocate scarce resources beforehand.
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