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1. This week at Market Urbanism: Shanu Athiparambath has his first post on the blog via Scott Beyer: Economist David Friedman Says India Must Go Taller to Make Homes Affordable I remember my father saying that when he visited India in the 1950s and 1960s, bureaucrats in Delhi made arguments for restricting luxuries for the rich in air-conditioned luxury hotels where bureaucrats and American visitors held conferences. Emily Washington: Reforming Zoning in a Kludgeocracy While studying economics often leads people to think about the ceteris paribus effect of a policy change, in the real world, a policy will rarely be changed without resulting in domino effect of other changes in other policies and market outcomes because land-use policy is entangled with so many other policies. 2. Where’s Scott?: Scott Beyer is spending a final weekend in New Orleans before heading to Oklahoma City. This week, he wrote for National Review about rapid high-rise growth in the Miami neighborhood of Brickell. Starting as a low-slung neighborhood, it grew to become what it now is thanks to the city’s tolerance of unfettered growth. And rather than bringing Armageddon, as critics of rapid urban development might suspect, Brickell has become an economic powerhouse and an urban destination. At a time when so many other cities suppress development — and suffer the consequences – Brickell symbolizes a mentality worth restoring throughout urban America. 3. At the Market Urbanism Facebook Group: Nick Zaiac wants you to check out Cato’s new study related to immigration and housing affordability Tobias Cassandra Holbrook is interested in London’s growing skyline: Don’t listen to the Nimbies – skyscrapers can make London great again R John Anderson introduced the group to his latest post explaining where small urban developers should be looking to build 4. Elsewhere: New study confirms that boomers are clueless about where they like to live. h/t: Charles […]
In this exclusive interview to PropGuide, legendary economist David Friedman, who studied at Harvard University and University of Chicago, says that the government should allow developers to build high-rises to make homes affordable for everyone by 2022. I met David Friedman at Starbucks in Connaught Place, the Central Business District of Delhi. Starbucks, which exemplifies the age of aesthetics, tends to maintain consistency in look, feel and attitude across the world. But, its store in Delhi’s premier market reeks of traditionalism, with bare cement interiors, local crafts and furniture. The Connaught Place market, though somewhat dilapidated, is one of the most expensive office spaces in the world. Starbucks, which does not have many outlets in India, bought space here because as per its brand values, it cannot afford to open stores where the catchment area does not justify the investment. The young men and women who listened to Friedman consuming expensive retail space without consuming the expensive coffee epitomize India’s leisurely café culture. Economist David Friedman is one of the most creative minds of our times. Friedman studied Physics at Harvard and Chicago, and has never taken a course for credit in economics or law. But, the finest of minds vouch that Friedman’s class on legal systems is the best economics course in the world. David Friedman is the son of Milton Friedman, the 1976 winner of Nobel Prize in Economics, and economist Rose Director. Rose Director was the co-author of Milton’s best-selling book, ‘Free to Choose’ and sister of economist Aaron Director who was instrumental in the development of the Chicago School of Economics. Here are excerpts from an interview: Shanu Athiparambath: Economist Tyler Cowen said that when he visited India, he was surprised to see crowded streets where nothing happened. He couldn’t see their possessions, because they live on the streets. Why are so […]