3 ms·
This is the big reason I think we need to figure out as a society how to make it possible for everyone to keep a roof over their head and food on their plates e
by jseliger 7y ago
This is the big reason I think we need to figure out as a society how to make it possible for everyone to keep a roof over their head and food on their plates even if they don't work at all.
Start with comprehensive zoning reform to reduce the cost of housing. https://eml.berkeley.edu//~moretti/growth.pdf https://eml.berkeley.edu//~moretti/growth.pdf
Using a spatial equilibrium model and data from 220
metropolitan areas we find that these constraints lowered aggregate US growth by 36 percent from 1964 to 2009. (JEL E23, J24, J31, R23, R31)
Imagine multiplying everyone's effective salary by 36%. We'd have a lot less real poverty. California meanwhile, despite its ostensible liberality, has the highest poverty rate in the country due to building restrictions: https://www.politifact.com/california/statements/2017/jan/20/chad-mayes/true-california-has-nations-highest-poverty-rate-w/ https://www.politifact.com/california/statements/2017/jan/20....