The Streets Should Be Free. Let’s Decongest While Keeping Them That Way.

In her column on congestion pricing, Emily Badger exhibits the unquestioning acceptance of the legitimacy of the price system that lamentably characterizes so much work by progressives today. She argues that because driving has a cost, drivers should be asked to pay that cost through congestion pricing, and she suggests that our current system, in […]

A Tale of the Tail

Legal forms that were well adapted to a world in which wealth was zero sum, and borrowing against an estate could serve no purpose other than to carry out a slow transfer of it to others, were poorly adapted to a world in which wealth could be created, and borrowing against an estate could fund […]

A Buck Is Just Another Ration Card

The price system, like queuing, is just another way of rationing access to resources.  And it’s perfectly reasonable for the government to prefer to impose a queuing system over a price system in certain circumstances.  For example, if you don’t want the rich to take all of a fixed resource. So it’s perfectly reasonable for […]