Offensive to the Economic Mind

Here is a great story for making anyone who employs the economic way of thinking cringe. The state of New Jersey has a special program whereby the state builds schools in poor districts so that school infrastructure comes "at no cost" to the local school district. Of course, no cost to the district means at cost to someone else somewhere else, but what is even more erroneous and distasteful to the economic mind is the notion that delay and inferior quality are not costs. Read it and weep.