With New York's new Governor's rent subsidized by his landlord and California debating the best ways to end rent control through Proposition 98, I thought it was a good opportunity to discuss the negative aspects of rent control.This post is the second in a four part series on the rent control. … [Read more...]
Rent Control Part 1: Microeconomics Lesson & Hoarding
This post has been released as the first in a four part series: Rent Control Part One: Microeconomics Lesson and Hoarding Rent Control Part Two: Black Market, Deterioration, and Discrimination Rent Control Part Three: Mobility, Regional Growth, Development, and Class Conflict Rent Control Part … [Read more...]
Vending Machine Economics in Japan
Tyler Cowen of Marginal Revolution is in Japan, and is fascinated by the number of vending machines. He takes a minute to ponder on the economics of vending machines in Tokyo.First we must look to the shortage of storage space in homes. I suspect few Japanese want to buy big piles of stuff … [Read more...]
University of Chicago Creates Milton Friedman Institute
Crain's Chicago Business: U of C honors Friedman with $200M centerEventually, the Friedman Institute will be housed in buildings now occupied by the Chicago Theological Seminary on 58th Street between Woodlawn and University avenues. The U of C is buying the buildings and has agreed to build a … [Read more...]
How McCain or Obama Can Permanently Eliminate the Gas Tax, Cut Pork and Help the Environment
John McCain and Hillary Clinton have both supported the idea of a "Gas Tax Holiday". The whole idea of a Holy Day to celebrate the worship of socialized transportation catered by Santa Clinton/McCain seems pretty absurd to me. Nonetheless, they expect pandering to gas-addicted voters to pay off in … [Read more...]
Mortgage-Interest Deduction: The Unseen Costs
In general, I am opposed to just about any tax increase. However, the mortgage interest deduction is one of my least favorite tax breaks. First of all, it's a regressive tax deduction that transfers wealth from renters and businesses to homeowners. Second, it causes home prices to rise relative … [Read more...]
McCain: Suspend the Gas Tax and Inflate the Deficit
I favor Bob Poole's solution: "The longer-term solution is to scrap the 20th-century tax-and-grant system in favor of universal tolling, managed by each state’s Department of Transportation and private toll companies."Furthermore, get the federal government out of the business of subsidizing … [Read more...]
The High Cost of Trendy Living
An interesting post discussing the economics of why people decide to pay high rents to live in dense urban places.The High Cost of Trendy Living … [Read more...]