- Original Budget: $100 Million
The National Cathedral was initially projected to cost $100 million, but that figure didn’t last long. - Revised Estimate: $350 Million
Auditors have updated the projected cost to $350 million, reflecting massive budget overruns. - Over $100 Million Already Spent, With Less Than 10% Built
Despite limited visible progress, more than $100 million has been used, hinting the real cost could soar past $1 billion. - Calls to ‘Just Finish It’ Ignore Basic Economics
Some say the money spent justifies completion, but Simons points to the sunk cost fallacy, a trap economists warn against. - The Revenue Argument Doesn’t Hold Water
Supporters say the Cathedral can sustain itself financially, but Simons says global benchmarks prove otherwise. - Even Cologne Cathedral Operates at a Loss
Despite attracting 6 million visitors yearly and housing famous Christian relics, Cologne Cathedral needs millions in subsidies to stay open. - Yamoussoukro’s Basilica Barely Draws a Crowd
Ghana’s closest comparison, the Basilica in Côte d’Ivoire, only sees 30,000 annual visitors and survives on external donations. - Lack of Denominational Backing Hurts Funding
Unlike Catholic landmarks, Ghana’s non-denominational Cathedral has struggled to attract significant donations from the Christian community. - It Risks Becoming a Taxpayer Burden
All evidence points to the Cathedral becoming a loss-making venture, requiring ongoing public funding. - Social Value Must Be Rigorously Measured
Simons argues that if social value justifies the project, then cost-benefit analysis must also be applied to other public needs, and compared.
So what?
Bright Simons’ analysis offers a sobering reminder that ambition without economic discipline can burden future generations. The National Cathedral may carry symbolic weight, but without a credible financial model or broad social consensus, it risks becoming a high-cost monument to poor public decision-making.
Read More : https://x.com/BBSimons/status/1946712966780367133
