Original post date: November 25, 2013 Article by: Ben Douglas 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 preferred the bus or metro over other transportation alternatives, and if it … Continue reading Transit as an Inferior Good
Original post date: November 06, 2013 Article by: Anonymous 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 many people today, and there is a large transportation need. Many people … 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