Investing In Children

To the Editor:

In economics, there exists a differentiation between the terms speculation and investment: speculation referring to the acquisition or purchase of an item (at a low price) with the anticipation of a future increase in its value; investment referring to the anticipation of an item producing an ongoing and ever-increasing stream of income.

The Boards of Education and Finance were on the verge of presenting and approving an addition to Newtown High School to alleviate overcrowding. Were the other recently discussed options as thoroughly investigated as this one? This particular option seems short-sighted and speculative.

Economic principles also suggest that the future value of an item in today’s dollars is diminished by risk, inflation, and current need. By rushing to a solution because of a perceived sense of imminence, (1) without due process and consideration of all available options, (2) with the understanding that the student body will likely outgrow the increased space (inflation), and (3) with the inherent risks associated with a massive high school, such a decision only serves to decrease the overall value of our children’s education.

Let’s invest in our children’s future by truly investigating and openly discussing as a community all the possibilities, making real proposals, and examining bids. Only in this way will the right decision(s) be made. We cannot afford to speculate. We must invest in our children’s education now and for the long-term future of Newtown.

Respectfully submitted,

Richard Auerbach

19 Canterbury Lane, Sandy Hook                           March 10, 2006