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Welcome back! Last week, I shared the first part of my conversation with General Gerry Galloway, the person chosen by President Clinton to lead a review what happened in 1993 and what could be done to prevent such extensive damage in the future. Because our discussion ran long, I split it into two episodes. Check out the previous episode to hear the first half of our conversation, as well as a summary of the events of the 1993 flood. In this episode, our discussion turns to talking about how we define and count costs and benefits for river projects, and how those analyses have slowly moved beyond simple mathematical formulas. We also talk about the difficulties with trying to assign dollar values to many of the benefits, including environmental benefits. We touch on issues related to who has a voice in determining river management policies, as well as what values our policy choices reflect. We end by talking about the idea of sustainable infrastructure, one of General Galloway’s primary interests. In the Mississippi Minute, I have a few thoughts about how federalizing projects blurs the lines between people who merely have an interest and those who have a stake.