The Concorde Fallacy and why people make bad decisions

In October 1956 the UK Ministry of Supply asked Welsh Aeronautical Engineer Morien Morgan to form a study group. They called it the Supersonic Transport Aircraft Committee (STAC).

The British Government gave STAC a £1 million contract for a feasibility study. The goal was to design a SST project and find the right industry partners to build it.

SST is ja…

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