In a recent post, commenter Jeremy H. helped point out that the use of the term “public good” is grossly abused in the case of transportation. Even Nobel economists refer to roads as ”important examples of production of public goods,” ( Samuelson and Nordhaus 1985: 48-49). I’d like to spend a little more time dispensing of [...]
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February 22nd, 2011 | Tags: congestion, don boudreaux, Economics, highways, public good, public transit, roads | Category: Economics, Transportation, Urban[ism] Legends | 51 comments |  printable viewBack a couple years ago, I noted an Econtalk podcast with Russell Roberts and Duke University Professor Mike Munger on the private bus system in Santiago, Chile. This week’s episode starts with Munger’s update on the Santiago transportation system after visiting for three weeks and spending a lot of time traveling the city’s buses and [...] August 24th, 2010 | Tags: buses, Economics, econtalk, munger, private transit, public transit, Russell Roberts, santiago, traffic, transit | Category: Economics, privatization, Transportation | Leave a comment | printable viewIn an act of pure legislative idiocy in the face of overwhelming consensus among economists against rent control, the New York State Assembly started the ball rolling to strengthen rent regulation. NY Times: The Democratic-led Assembly passed a broad package of legislation designed to restrain increases on rent-regulated apartments statewide. The legislation would essentially [...] February 4th, 2009 | Tags: apartments, Economics, landlord, mobility, nyc, rent control, rent regulation | Category: Economics, housing, rent control | 12 comments | printable viewRecently, I came accross an article by Charles Johnson, who blogs at Rad Geek. The article had linked to a Market Urbanism post about how user fees and gas taxes fall well short of funding road use in the US. Charles’ article further debunks the Urbanism Legend asserted by free-market imposters that a free-market [...] December 22nd, 2008 | Tags: Economics, eminent domain, gasoline, highways, infrastructure, Interstate Highway System, libertarian, privatization | Category: privatization, Transportation | 6 comments | printable viewWow! This market is a mess. As a great follow up to his posts at CafeHayek on government’s intervention in the housing market, Russell Roberts discusses the situation and bailout with reason.tv: Also… Here’s the video from an Economics forum discussion at MIT (my Alma mater) on Wednesday: The US Financial Crisis What [...] October 10th, 2008 | Tags: Bailout, CafeHayek, Economics, government intervention, housing bubble, MIT, Russell Roberts, Urban Economics, USC | Category: Economics, housing, video | Leave a comment | printable viewRussell Roberts of George Mason University, CafeHayek, and Econtalk wrote of series of Cafe Hayek posts on the various federal interventions in the housing market: Housing markets without the benefit of hindsight Fannie reaches its goals–sort of Zero Down! Fannie and Freddie’s other mission Section 8 Bill cared too Affordable equals “subprime” Calm down [...] September 23rd, 2008 | Tags: CafeHayek, Economics, Fannie Mae, Fed, Freddie Mac, Free-market, government, government intervention, housing bubble, Intervention, Russell Roberts, subprime | Category: Economics, housing | Leave a comment | printable viewEver hear of interesting economic indicators such as the correlation beween the economy and length of skirts? Here’s one urbanists should appreciate: the skyscraper index, which shows strong correlation between the completion of world’s tallest buildings and downturns in the business cycle. Mark Thornton discusses the skyscraper index in his article, Skyscrapers and Business [...] August 26th, 2008 | Tags: Building, business cycles, construction, development, Dubai, Economics, macroeconomics, skyscrapers | Category: Economics | 9 comments | printable viewHarvard Economist Ed Glaeser wrote an opinion piece in the New York Sun about the differences in housing affordability and other costs of living between Houston and New York. New York is naturally more expensive than Houston because the geographical constraints force higher density development, which is more expensive to build. New York’s highly [...] July 17th, 2008 | Tags: affordability, density, development, Economics, glaeser, Houston, nyc, zoning | Category: Economics, featured, housing, zoning | Leave a comment | printable view |
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