Jul 9Shareholders vs. stakeholdersIn terms of maximizing shareholder wealth, the primary goal of a corporation is to return a profit for its shareholders. The way that happens is by producing goods and services people want. As Adam Smith (1776) said, “It is not from the benevolence of the butcher, the brewer, or the…Economics4 min readEconomics4 min read
Jun 12Indy’s Red Line (and its successors): a microcosm of the transit cycleOne day, Lyle Lanley bursts into the fictional town of Springfield and starts selling them on the benefits of a monorail. Next thing you know, the entire town is bursting out into song as to how the monorail will transform Springfield and put it on the map — just like…Economics8 min readEconomics8 min read
Jun 9The moral equivalent of warWar is brutal. It leads to the massive loss of life and destruction, with territory and property in the balance. But war also provides opportunities for governments thirsty for central planning and mobilizing the citizenry around a “noble” cause. Under the guise of war, the United States government has suppressed…Climate Change5 min readClimate Change5 min read
Mar 1The “corporate greed” theory of inflationSince the world emerged from the COVID shutdowns in 2020, developed economies — including the United States — have been experiencing high inflation. Currently, the inflation rate sits at 6.4% in the United States, and is even larger for staple items like food (10.1%) and energy (8.7%). …Inflation4 min readInflation4 min read
Feb 24The 15-minute city: A modern twist on an old Soviet idealThe latest fad in urbanist and urban planning circles is the “15-minute city” — the idea that all of one’s needs should be within a 15-minute walk or bicycle ride from home. The implicit assumption is that one shouldn’t — and won’t — need a car to navigate this city…Urban Planning7 min readUrban Planning7 min read
Jan 11You can get there from hereWednesday morning, a computer glitch in the Federal Aviation Authority’s system ground commercial air travel to a halt in the United States for several hours. Meanwhile, an Amtrak train had been stranded for 29 hours in rural South Carolina. The FAA’s computer glitch shut down its Notice to Air Missions…Economics5 min readEconomics5 min read
Jan 9An ode to the suburbSuburbs are considered the ugly stepchild of American urban design. They’re generally despised, considered bastions of conformity, derided as “cookie-cutter vinyl villages,” considered eyesores and blamed for virtually every malady that has affected urban America. But if they’re so awful, why are they so popular? More than half the U.S…Economics8 min readEconomics8 min read
Jan 3Growth boundaries only limit choices while bringing higher pricesOver the last century, urban planners have wrestled with how to lay out communities to serve multiple constituencies — those of residents, workers and commuters — and using planning and zoning to respond to those constituencies. An unintended consequence of planning and zoning decisions can be the impact on housing…Economics6 min readEconomics6 min read
Dec 24, 2022Stop mandating and let markets do their jobsIn 2026, Canada plans to require 20% of all cars sold in the country be electric vehicles. By 2035, the mandate will be 100% — essentially, gas-powered cars will be illegal to produce and sell north of the border. That follows on a similar mandate pushed by California, and being…Economics5 min readEconomics5 min read
Dec 8, 2022Price controls don’t work … againWhen prices soar, those in government often look everywhere for blame — except the mirror. Inflation causes prices to rise, which in turn causes citizens to become angry about those rising prices. Those citizens, in turn, look to their government to diagnose the problem and come up with a solution. …Economics3 min readEconomics3 min read
