The questions of distorted incentives and short-term decision-making are much more interesting questions! As to whether it's a problem or not, how would you arg

The questions of distorted incentives and short-term decision-making are much more interesting questions! As to whether it's a problem or not, how would you argue that it is? Is there cultural value to having bohemians or artists or people other than high-income professionals clustered in city centers, value which isn't represented in their incomes? If so, wouldn't it be more efficient to provide a subsidy for their cultural output and let them choose where to live?