Jeff Jacoby points out that Boston’s benefits from hosting the Democratic National Convention may be slightly lower (actually a lot lower) than the estimated $150 million being bandied about. It’s a nice example of the seen and the unseen. Seen are some of the benefits. The costs are a little harder to see. But he cites a study by the Beacon Hill Institute that claims when the full effects are considered, the Convention will actually harm the city by $12.8 million.
Here is the original analysis by Bastiat on the seen and the unseen.
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