Original post date: November 25, 2013 Article by: Ben Douglas 6/6/2023 Edits: Some links that were no longer working have been fixed. Mass transit is frequently accompanied by mass-subsidization, cartelization, and monopolies. This chronic need for artificial support might be an indication of its inherent inferiority as an economically valued good or service. If consumers … Continue reading Transit as an Inferior Good
Original post date: November 06, 2013 Article by: Anonymous 5/16/2023 Edits: Some links that were no longer working have been fixed. Ray LaHood, the recently retired secretary of the Department of Transportation, said that equal access to transportation is “one of the most fundamental of American rights.” Mobility is a crucial aspect of life for … Continue reading Equal Access to Transportation, a Right?
Original post date: November 04, 2013 Article by: Ben Douglas The careful application of economics to policy reveals a host of ironies. Minimum wages create unemployment among the very unskilled laborers policymakers intend to help. Rent control destroys housing in the very cities it is intended to save. Adam Smith’s entire concept of an “invisible hand,” … Continue reading Go Green, Don’t Expand Transit