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
-
There's a New Global Entry App for US Customs
-
International travel is about to get a little easier for the more than 12
million members of U.S. Customs and Border Protection’s (CBP) Global Entry
prog...
-
A man was jailed for using AI to create hundreds of sexual images of children
-
The man in his forties used prompts such as "10 years old," "nude," and
"child" to generate the images, The Korea Herald reported.
-
Snag a 4th-Gen Echo Dot Smart Speaker for Under $20 (Save $31) - CNET
-
Check the weather, stream music or audiobooks, control your compatible
smart home devices and more with this Alexa-enabled smart speaker while
it's 62% off...
-
Schedule for Week of October 1, 2023
-
*Special Note on Government Shutdown*: If the Republicans shut down the
government again, then some economic releases will be delayed. The
impacted releas...
-
Ukraine’s War of Drones Runs Into an Obstacle: China
-
As the war with Russia stretches on, so too does a contest to make more and
deadlier flying machines. That means a fight over global electronics supply
cha...
-
Ukraine’s War of Drones Runs Into an Obstacle: China
-
As the war with Russia stretches on, so too does a contest to make more and
deadlier flying machines. That means a fight over global electronics supply
cha...
-
Grollos to relinquish control of nightclub strip in Rialto backyard
-
The Grollo Group has listed for sale its prized CBD holdings on King Street
– behind the Rialto towers – marking the end of the Grollo family’s control
of ...
-
Kick streamers consider leaving over CEO’s comments in a sex worker ‘prank’ stream
-
Streamers are leaving Kick en masse in protest of the platform’s lack of
safety guidelines, after a prominent creator streamed an encounter with a
sex work...
-
-
This week at CBPP, we focused on food assistance , health , state budgets
and taxes , the federal budget , and the economy . On food assistance ,
Dottie Ro...
-
Players Are Having Trouble Activating The Cyberpunk 2077 Expansion’s Final Mission
-
Cyberpunk 2077 and its Phantom Liberty expansion have a problem with
wasting your time. CD Projekt Red’s open-world RPG has a feature where you
have to w...
-
-
-
-
7 Google Photos tips for perfecting your pics on Pixel 7
-
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 ...
-
‘Every weld is a challenge’
-
Philadelphia schools are focusing career-tech training on preparing
students to move from high school to apprenticeships and skilled jobs,
reports Chalkbea...
-
Mindfulness: New age craze or science-backed solution?
-
- Mindfulness has become a billion-dollar industry.
- Research shows mindfulness can be an effective wellness practice, yet the
effect sizes found in stud...
-
-
Three steps to keep your YouTube account secure
-
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...
-
-
32+ Years...
-
[image: image from pbs.twimg.com]
-
Huawei Working On 5G Radar Tech For Self-Driving Cars
-
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-...
-
Bifurcar 'blockchain': universos paralelos de cadenas ingobernables
-
Los usuarios de Nano han demandado a sus desarrolladores por una pérdida de
criptomonedas valorada en 150 millones de euros. Si prospera, estarĂan
obligado...
-
The Blog Moves On
-
But the show goes on.
-
The US Treasury’s missed opportunity
-
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 ...
-
The 'Only' Profession to 'Celebrate What It Means to Live a Life'
-
In another strange sign of the mounting culture wars, Viola Davis’s
emotional Oscars tribute to artists has become political fodder.
-
The search for the best middle-class tax cut
-
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 ...
-
IBM buys Ustream: is it a workforce communication play?
-
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...
-
Book Expo America, BookCon, Detroit Public TV Video
-
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...
-
The World's Billionaires
-
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...
-
-
-
No comments:
Post a Comment