infrastructure projects (bridges, rail, etc.) reveals a pattern of cost overruns, benefit shortfalls, and optimistic projections gone awry. It highlights how accountability can be lost in complex megaprojects and how the public ends up shouldering hidden costs – an example of “waste is also theft” through poorly governed public works, res- onating with points on misalignment in public goods allocation. • Barrett, S. (2007). Why Cooperate? The Incentive to Supply Global Public Goods . Oxford University Press. – An exploration of the economics and politics of global public goods like climate stability. Barrett explains the collective action problems that make it hard for governments to invest adequately in long-term public goods, leading to under-provision and “hidden” costs transferred to future generations. This helps expand the domestic focus to a global context, examining how failure to align incentives results in public welfare losses (e.g. in climate adaptation efforts). • Hallegatte, S., Rentschler, J., & Rozenberg, J. (2019). Lifelines: The Resilient Infrastructure Opportunity . Washington, DC: World Bank. – A World Bank study on making infrastructure systems more resilient to climate change and disasters. It finds that infra- structure disruptions impose massive hidden costs on economies and the poor, and argues for upfront investment in resilience as a public good. By detailing the “drag on people and economies” from infrastructure failures and the distribution of those costs, this re- port reinforces themes of misallocation and shortsightedness in public policy. • Global Commission on Adaptation. (2019). Adapt Now: A Global Call for Leadership on Climate Resilience . World Resources Institute. – A high-level report urging proactive adapta- tion to climate impacts, with recommendations on infrastructure, urban planning, and finance. It emphasizes that without systemic changes, climate shocks will hurt the most vulnerable and create “losers” through inaction. Adapt Now shows how a failure to update public-sector priorities (in this case, neglecting climate resilience)
303
Made with FlippingBook - professional solution for displaying marketing and sales documents online