This is why I’m skeptical of government intervention even in the face of externality arguments. Local preservation and development offers an example. A legal battle is brewing between the city of Memphis (which owns Beale Street), the management company that runs Beale Street, and some of the merchants. Let’s grant the assumption that there...
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My old friends Jeffrey Rogers Hummel and David R. Henderson continue to argue that the Fed had little or nothing to do with fueling the housing bubble during the first five or six years of the present decade. Their latest article along these lines appears in Forbes. This is the third rendition of their...
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