What is a cynic? A man who knows the price of everything, and the value of nothing.
Suppose that at the last Town Council meeting, parents, attending with children, advocated for a municipal recreational program serving disabled residents. At present, the community does not offer any such program. Strongly moved by the intensity of feeling demonstrated, Town Council members decided to consider the parents’ proposal. However, they agreed that rational decision-making requires that program benefits be measured based on the monetary value of recreational services for which households are willing to pay or travel. The Council asked the city manager, ...