What Is America’s Infrastructure Cost Problem?

This episode was originally recorded on September 4th at the Abundance Conference in DC."Zach Liscow, my guest today, is a professor of law at Yale Law School. In 2022-2023, he was the Chief Economist at the Office of Management and Budget. He's also now my colleague at IFP, as a non-resident senior fellow.I have a bit of a problem today, which is that while Zach may not be a national household name, he might as well be in this audience. As most of you are aware, Zach has worked on many interesting economic topics, but especially on infrastructure costs: why it costs so much to build in the US, what the inputs are, and cross-cutting comparisons.The challenge for me today as an interviewer is that, in part because of Zach’s work, everyone here now knows that infrastructure in the US costs a huge amount to build. I recently reviewed some submissions for a project on transit at IFP, and every other submission referenced the fact that the cost per mile to build a subway in New York is something like eight times more than the equivalent project in Paris.These stylized facts are now embedded in our discourse. And my problem is that this makes it a little hard to figure out how to have a conversation that isn't just all of us nodding in agreement. I'm going to try to tackle that problem, but I just want to lay my cards on the table. This is my fear, and we’ll try to avoid it."The full transcript for this conversation and many others is at www.statecraft.pub. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.statecraft.pub