London housing and building prices as economic headwind
When a London firm brings someone to London, they do so, presumably, because the move generates a productivity increase which generates gains that can be shared between firm and worker. But the lion's share of that increase flows not to the firm or the worker but to the owner of the firm's office space and the worker's flat. As a result, London winds up with many, many fewer firms and workers than it could otherwise expect to have. As does Britain, because firms and workers deflected from London are more likely to wind up in New York or Hong Kong than in Newcastle. (source infra)
London house prices: The parasitic city | The Economist:
"The magnitude of the impact of these supply restrictions on real estate costs is astounding. In a 2008 paper, Paul Cheshire and Christian Hilber estimated the "shadow tax" imposed by such regulations on office prices in London and other major cities. They found a shadow tax rate of planning restrictions (above construction costs) of about 800% in London's West End, and of nearly 500% in the City of London. The comparable rate is about 300% in Paris, 68% in Brussels, and 50% in Manhattan. (The Manhattan estimate is for the year 2000; other city estimates are for the early 2000s.)"
My Reading List
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Jeep puts electrification front and center at Easter Jeep Safari
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When Stellantis brand Jeep descended on Moab, Utah this week for its annual
off-roading and concept roadshow, electrification ruled the road. The
automak...
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A Florida School Banned a Disney Movie About Ruby Bridges. Here’s What That Really Means.
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The state’s crusading censors are choosing the comfort of ignorance over
the inconvenience of truth.
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Seven seals deal to televise ICC World Test Championship final
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Seven will broadcast a Test match played outside Australia for the first
time in more than 20 years after scoring an exclusive deal with the
International ...
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Resident Evil 4 Makes EXCELLENT Use Of The PS5's Adaptive Triggers
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So the *Resident Evil 4* remake is, surprisingly absolutely nobody given
the quality of the source material, good. It looks great, it has some
modern ide...
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Thursday: GDP, Unemployment Claims
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[image: Mortgage Rates]Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
Thursday:
• At 8:30 AM ET, *Gross Domestic Produ...
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President Biden’s Budget Charts a Needed Course Correction as 2025 Tax Debate Begins
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A high-stakes tax debate will begin this year, accelerate through the
presidential campaign, and likely culminate with legislative action in 2025.
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Yankees' YES Network Adds New Streaming Option for Cord Cutters Before Opening Day - CNET
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Watching local New York Yankees, Brooklyn Nets or New York Liberty games
will no longer require signing up for a pricey cable or satellite package.
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You Can Argue Against a Rent Increase
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My lease renewal arrived it the mail a few weeks ago, bringing with it a
small but significant rent increase. I’m hardly alone: Nationwide, average
rents...
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An Unopened 2007 iPhone Can Be Yours (for $32,000 or More)
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A first-generation Apple smartphone is going up for auction.
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7 Google Photos tips for perfecting your pics on Pixel 7
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Our new Pixel 7 and Pixel 7 Pro have incredible cameras for capturing your
memories, but snapping a photo is just the beginning. We all want to get
our ...
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‘Every weld is a challenge’
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Philadelphia schools are focusing career-tech training on preparing
students to move from high school to apprenticeships and skilled jobs,
reports Chalkbea...
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Mindfulness: New age craze or science-backed solution?
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- Mindfulness has become a billion-dollar industry.
- Research shows mindfulness can be an effective wellness practice, yet the
effect sizes found in stud...
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Three steps to keep your YouTube account secure
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In the spirit of World Password Day, we encourage all creators to bolster
the security of their Google accounts. Unfortunately, over the past several
month...
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32+ Years...
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[image: image from pbs.twimg.com]
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Huawei Working On 5G Radar Tech For Self-Driving Cars
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Current chairman Xu Zhijun said Huawei is working on millimeter-wave radar
and laser radar for use in autonomous vehicles as part of an “ecosystem” of
car-...
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Bifurcar 'blockchain': universos paralelos de cadenas ingobernables
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Los usuarios de Nano han demandado a sus desarrolladores por una pérdida de
criptomonedas valorada en 150 millones de euros. Si prospera, estarĂan
obligado...
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The Blog Moves On
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But the show goes on.
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The US Treasury’s missed opportunity
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The US Treasury recently published the first in a series of reports
designed to implement the seven core principles for regulating the US
financial system ...
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The 'Only' Profession to 'Celebrate What It Means to Live a Life'
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In another strange sign of the mounting culture wars, Viola Davis’s
emotional Oscars tribute to artists has become political fodder.
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The search for the best middle-class tax cut
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Say you want to help struggling middle-class families by cutting their
taxes. Say you want to figure out an actually helpful plan to do that, and
not just ...
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IBM buys Ustream: is it a workforce communication play?
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IBM has added Ustream to a long list of video technology company
acquisitions in the recent past -- like Clearleap acquired last month --
buying the stream...
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Book Expo America, BookCon, Detroit Public TV Video
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Tweets about #BookCon2015 OR #BEA15
*Date: Fri May, 29 2015 11:00 AM CDT — Sun May, 31 2015 3:00 PM CDT*
*Detroit Public TV will bring live inside the boo...
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The World's Billionaires
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Carlos Slim Helu takes the No. 1 spot on Forbes' annual list of the world's
richest as a record 164 billionaires return to the ranking amid the global
econ...
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