I hope he's right. But, here's how he might not be: If cities like SF continue to maintain excess building regulations and "affordability" requirements that actually make it less affordable for most people. Zoning and land use policies are causing huge problems. Anyways, a smaller and smaller percentage of people will continue to prop up these insane housing prices, while a few others either gets free housing from go…
Rents in Megacities Can't Go Up Forever
341–350 of 391 posts
Re: Rents in Megacities Can't Go Up Forever
#342Earlier quoted context omitted.
Is that a typo? Rent seeking refers to a specific kind of behavior https://en.m.wikipedia.org/wiki/Rent-seeking
Exactly what I meant. Bars and museums require wealth
If prices of drinks are going up naturally because people are making more money, "rent" for real estate is going up, etc. that is not "rent-seeking".
Re: Rents in Megacities Can't Go Up Forever
#343Earlier quoted context omitted.
Huh? Parents buy their kids crap fast food all the time. We have no cultural push to buy whatever food our kid has access to no matter how high the cost. Contrast this with college acceptances and tuition. As soon as they get accepted, the tuition can be however high it is it doesn't matter. You still pay it. This culture of spending all and everything on tuition has allowed tuition to rise to maximally extract from…
Maybe i can clarify: there are many things people would pay through their teeth to keep or get, but not all of those has raised prices like tuition. First of all, tuition around the world hasnt increased like in the us, and the same cultural effect has to be present in the west. My explanation for it is the debt conditions: if students were able to default on their debts, colleges would not charge what they do for ma…
If you made student loans defaultable, suddenly they would lose much access to this debt, and tuition would fall.
My points about aid and tax breaks on tuition not working still apply.
Re: Rents in Megacities Can't Go Up Forever
#344Forever is a long time. As a famous economist once noted, in the long run we're all dead.
Re: Rents in Megacities Can't Go Up Forever
#345Earlier quoted context omitted.
That's probably true; but rural areas had alcohol problems before they had drug ones.
And they've always had poverty problems. The underlying point is that I'm sure we cannot boil down substance abuse problems to simple boredom.
And alcohol can be coexisted with more easily than hard drugs can. "Meth: Not Even Once" is no exaggeration, but no one in the West except recovering alcoholics has that slogan for drinking.
Re: Rents in Megacities Can't Go Up Forever
#346Earlier quoted context omitted.
Isn't Boeing in Washington? Also, not too many people aspire to be in insurance. I don't think you can put it on the same level as finance, arts, software, fashion, film, etc.
They left Washington a while ago; I think over taxes?
Re: Rents in Megacities Can't Go Up Forever
#347Earlier quoted context omitted.
Culture in Matthew Arnold's definition is the pursuit of human perfection. Different cultures have different norms of human perfection, and pursue different things; this fits Spengler's (the real one's) idea that a culture has a core proposition. Within a civilization, high culture is a culture's full expression of itself; it seeks out and engages with the contradictory or self-defeating parts of its values, and trie…
> It's not just mass culture that the Internet makes available. That whole discourse assumes things about actualized humanity that cannot be taken as granted. Who's to say that earning a simple living, caring for a family well, and being virtuous isn't perfect in itself? Who's to say that seeking pleasure and avoiding pain isn't a form of perfection? Who's to say that the human perfection isn't a distraction from the…
I'd say that the high-low-middle-mass divide is universal, but the goals that a given high culture aims for are different from civilization to civilization. This includes West European (including New England) versus Celtic (more or less including the South, descended mostly from the Anglo-Scottish Borderers and the West Country).
In the particular areas you're asking about, though, I see contradictions. Being virtuous doesn't have much of a history of being compatible with seeking pleasure and avoiding pain; but being virtuous is a form of human perfection, in fact the one that Aristotle would endorse most readily, and I fail to see how following God becomes easier if you're less able to follow Him. As for earning a simple living, well, look at the website you're on and its long history of destroying the ability to earn them...
On the second point, though, I feel misrepresented. I explicitly said that "it's not just mass culture that the Internet makes available" -- although if you don't share the goals of a given high culture, there's no point in participating it. What does a Celtic high culture look like? Such a culture definitely existed in the Middle Ages, especially in Ireland, but it's been on ice for centuries...
In music, an orchestra can just plain produce sounds that a guy with a guitar can't. There's also more of a filtering effect, which tends to weed out junk... but bigger and/or more formal music don't always mean better music. Music theory can become a burden, and the pentatonic scale is extremely expressive for something that has half the notes of twelve-tone scales; the Irish session is a different sort of thing from a Western quartet or band, with a different set of objectives. And music is something it's good to participate in, which is something in the guy with guitar's favor.
Still, whatever a Celtic (or Quaker? or who knows what else) high culture might look like, there's not much participation in it in the US countryside, certainly not in any organized and visible form (although a lot of cultural activity of all sorts is on the Web these days). I feel like Western high culture leaves a few things out, but I'd rather be around someone else's culture than around cultural passivity -- although Western culture has a horrible case of the middlebrows here in the US. (Has it always? I wouldn't rule it out.)
But if you want to specifically say that life isn't better in the mega-cities: I like urban living, especially walking to work. Of course, that gets challenging and expensive even in the mega-cities; the US needs more walkable areas, more narrow streets, and more trains, subways, and commuter rail. Rents low enough to raise families in the cities wouldn't hurt, either...
Re: Rents in Megacities Can't Go Up Forever
#348Forever is a long time. As a famous economist once noted, in the long run we're all dead.
Obviously not forever -- eventually the sun will become a red giant and consume San Francisco, at which point all rents there fall to $0 -- but I heard "forever" in that article as "the foreseeable future and its foreseeable future". Maybe 100-200 years; maybe longer than that... How do you read it?
Re: Rents in Megacities Can't Go Up Forever
#349Earlier quoted context omitted.
They left Washington a while ago; I think over taxes?
No they did not leave Washington, that's ridiculous. Their executive HQ is in Chicago but that doesn't mean much. Many executive HQ are in Chicago but that's not many jobs.
Re: Rents in Megacities Can't Go Up Forever
#350Earlier quoted context omitted.
It takes relatively wealthy people (or at least big spenders) to make trendy upscale bars and restaurants work. Museums, opera, symphony, most theater, etc. are kept alive by the philanthropy of the local rich. High salaries are paid by rich VCs looking for return, or companies with more cash than they know how to handle commissioning prestige projects. (How many people at Google actually work on revenue generation?…
It should be noted that the vast majority of the IT industry isn't startups. Lots of the drive of rent is not funded by VCs.