Utilitarianism | Indifference curve Dependent variable Consumption bundles |
A
random walk down Maguire Street. The financial recession has seemingly had little effect on the congested traffic patterns or garishness of this local business corridor. But things are positioned to elicit positive transformation as finally a highway bypass is under construction. Many local residents have opposed this improvement for years, citing negative economic impact. In the long term, however, bypasses typically do not cause significant negative impact on a local economy. In fact, many towns enjoy long-term payback from bypass construction. The major component of this gain results from encouragement of basic industries due to the improved transportation system. This industrial development then stimulates local retailing and services.
“Economy is the method by which we prepare today to afford the improvements of tomorrow.” - Calvin Coolidge
