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If rising prices reduced the demand so much that they become economically nonviable, then it means that we actually don't like having restaurants all that much,
by xyzzyz 8y ago
If rising prices reduced the demand so much that they become economically nonviable, then it means that we actually don't like having restaurants all that much, otherwise we'd pay.
- closeparen 8y agoVoting with your wallet is only one way of expressing a preference. San Francisco in particular also likes to vote with its votes. We may not care enough about restaurants to pay what they really cost, but by all accounts we’ll care enough to vote for a ballot measure that makes “big developers” and “the techies” pay for them.
- xyzzyz 8y agoIndeed, residents of Bay Area definitely like trying to vote away the microeconomics of supply and demand.