While I question how Bloomberg Markets knows the actual performance figures, if the figures reported here are even half true, they make Warren Buffett look like a rank amateur.
But always remember that "Government is just the name we give to things we do together". Ha!
LA has like 9,000 food trucks, New York has 5,500, Chicago has 90 and it's impossible to function.
Another terrific video by Hans Rosling, this one co-starring his son.
(I've been a Rosling fan for a while.)
Link courtesy of Maddog.
Two NPR guys talk to five economists, representing widely different viewpoints, to elicit proposals that all of them agree on. They get pretty good proposals, but they're probably politically difficult if not impossible. Sigh. 20-minute audio.
(I could have done without some of the hosts' dopey comments. But this is unexpectedly good from NPR.)
"The east sides of New York, London and Paris are noticeably and famously poorer than their western sides. And it turns out there’s a reason for that."
L.A. fits, too.
Truly excellent point by Megan McArdle:
And this is true of every idea that starts with “All we need to do.” If “All we need to do” to fix some substantial problem were cheap and politically popular, it would already have been done, and we wouldn’t be talking about it. The stuff we argue about is, almost by definition, the stuff that’s hard.
Obamacare makes health care affordable in the same way rent controls have made big-city apartments affordable: "These Patients Are Covered by Obamacare But Can’t Afford Treatment".
Interesting discussion in the New York Times of the economics of restaurants. And the answer is "yes".
"The one thing Trump and Clinton agree on is infrastructure. This economist thinks they’re both wrong."
Excellent point by Harvard economist Edward Glaeser.
“My biggest fear is that we’re not actually going to fix the biggest problems we have,” he says of these proposals. “Instead we’ll just end up with more highways in North Dakota or more white elephant projects that deliver little value.”
It’s not that Glaeser is against infrastructure. America’s roads and airports are vital, and they really do need upgrades. But the way the federal government currently addresses these issues is badly flawed. Congress hands large checks to states, which often just build shiny new roads rather than fixing existing ones. Instead of targeting urgent needs, federal spending often goes toward questionable projects like Detroit’s little-used monorail or California’s troubled high-speed rail or roads and interchanges of dubious value. Infrastructure spending is rarely evidence-based; few projects go through rigorous cost-benefit analysis.
"Internal Amazon documents reveal a vision of up to 2,000 grocery stores across the US".
"There’s Another German Grocery Store Coming to the U.S., and It May Just Produce the Greatest Rivalry in Supermarket History".
"In other words, to cover benefits for retirees, states need to dig into education funds that might otherwise be used to attract and retain good teachers or buy better textbooks and build new facilities."