3 ms·
In which San Francisco makes markets illegal and then is surprised when they fail to clear. There's a good discussion to be had, somewhere, about the implicati
by patio11 14y ago
In which San Francisco makes markets illegal and then is surprised when they fail to clear.
There's a good discussion to be had, somewhere, about the implications of rapid productivity growth in the tech sector versus the rest of the country, what this will do to relative equality of outcomes as measured by income ("destroy it utterly"), and the social consequences of that. But I find myself incapable of discussing that vis-a-vis San Fran real estate because that is, fundamentally, a political problem.
- pchristensen 14y agoThe discussion has in fact been had by Matthew Yglesias in his Monexbox column on Slate.com, and by Ryan Avent in his book The Gated City: http://www.amazon.com/Gated-City-Kindle-Single-ebook/dp/B005KGATLO/ http://www.amazon.com/Gated-City-Kindle-Single-ebook/dp/B005... Basically, development restrictions in economically productive areas raise prices and drive out productive workers to less productive areas, improving standard of living for those who move but lowering overall wages and productivity for the country as a whole. It is an entirely political problem and the only reason it's such an issue in SF is the economic productivity there.
- deleted 14y ago[deleted]