Our latest Freakonomics Radio episode is called “Here’s Why All Your Projects Are Always Late — and What to Do About It.” (You can subscribe to the podcast at iTunes or elsewhere, get the RSS feed, or listen via the media player above.) Whether it’s a giant infrastructure plan or a humble kitchen renovation, it’ll inevitably take way too long and cost way too much. That’s because you suffer from “the planning fallacy.” (You also have an “optimism bias” and a bad case of overconfidence.) But don’t worry: we’ve got the solution. Below is a transcript of the episode, modified for your reading pleasure. For more information on the people and ideas in the episode, see the links at the bottom of this post. And you’ll find credits for the music in the episode noted within the transcript. In 1968 — 50 years ago — the governor of New York State, Nelson Rockefeller, received a proposal he’d commissioned. It addressed the mass-transit needs of the New York City area. One centerpiece of the plan was a new subway line that would run from lower Manhattan, up the East Side, and into the Bronx. It
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