As Andrew Biggs writes, if you have read the scary stories in the mainstream media, you probably have no idea.
A t the very least you should be real darn careful before you buy one.
Steve Forbes writes a nice appreciation of A. P. Giannini.
To paraphrase a car ad from 80s: Capitalism--there is no substitute.
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".