Letter: Muskrat Falls — defending the indefensible

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The Muskrat Falls assignment. – file image

I’ve been analyzing Stephen Pinker’s booklet “The more advantageous Angels of Our Nature” the place he discusses wars of attrition and loss-aversion strategy where he cites, as an example, leaders who have justified continuing a “misplaced” struggle so that “our boys shall not have died in useless,” he writes.

This mind-set — referred to as loss aversion, the can situs judi online charge-sunk fallacy and throwing decent money after unhealthy — is patently irrational however is exceptionally pervasive in human resolution-making.

americans reside in abusive marriages because of the years they have already put in it, or take a seat via a nasty movie because they have already paid for the ticket, or are attempting to reverse a gambling loss by means of doubling their subsequent guess, or pour cash right into a boondoggle because they’ve already poured so a whole lot funds into it.

connected record:

Danny Williams condemns ‘negativity’ over Muskrat Falls mission

though psychologists don’t completely take into account why people are suckers for sunk costs, a typical rationalization is that it alerts a public dedication.

The adult is announcing “after I make a decision, I’m not so weak, dull or indecisive that I can be simply talked out of it.”

So, when Kathy Dunderdale and business were confronted with a federalprovincial panel and a PUB which each had very severe concerns with the particulars and projections of the Muskrat scheme, they have been locked right into a loss-aversion approach that finally spelled fiscal disaster for our province.

Even nowadays, we hear Danny Williams, Paul Davis and others nevertheless defending the indefensible. They insist it will be exceptional for us down the street, even if it may very well bankrupt the govt and cause untold inconvenience on electricity buyers — particularly these on mounted incomes, who might also have to make a choice from eating or heating their homes.

As voters we all have to be on our toes all of the time when our leaders, primarily those who have very high popularity ratings, come to make use of with legacy schemes that demand the public to be the underwriters.

So Danny, when you so foolishly and cavalierly name the americans — who have long considered via your “no brainer” — a bunch of poor naysayers, be aware of that the jig is up. You and your cronies can be idea of and cursed each month as electricity rates, at the very least, double.

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