Unfortunately, MS has not provided us, the DBA's, a good way of actually seeing what SQL is actually being executed by sp_execute. This makes troubleshooting and optimization very difficult at best and sometimes impossible. This reason alone is enough to tell our developers not to use prepared statements.
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If most people are not willing to see the difficulty, this is mainly because, consciously or unconsciously, they assume that it will be they who will settle these questions for the others, and because they are convinced of their own capacity to do this. -Friedrich August von Hayek
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