London's 850-year-old food markets to close

Post by walterbell » Thu, Nov 28, 2024, 1:24 AM UTC

sdwr wrote: post #41

walterbell wrote: post #8

Need a City quant PhD to invent a mathematical analog of Black-Scholes [1] for pricing and trading the irreplaceable value of culturally significant physical spaces to future generations. Then City-like [2] institutions can compete financially for ongoing preservation rights, rather than a one-time chop shop auction. [1] https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model [2] https://en.wikipedia.org/wiki/City_…

"Preserving the irreplaceable value of ..." works great as a personal motivation or a mission statement, but terribly as an explicit rule. It's the same problem as carbon offsets - if there's a formula for converting intangible values into cold hard cash, people will exploit the definition of the intangibles to make money.

Post by bobthepanda » Thu, Nov 28, 2024, 1:27 AM UTC

dgfitz wrote: post #45

ericjmorey wrote: post #23

Earlier quoted context omitted.

They are in the process of absolving their legal obligation to continue operating the market.

So the market moved 40ish years ago, and now it has to move again, the institution is fine?

Post by mensetmanusman » Thu, Nov 28, 2024, 1:40 AM UTC

zeristor wrote: post #59

Farringdon station happens to be where the Thameslink line from North to South London, intersects with the East to West Elizabeth line. As the Elizabeth Line was being finished I realised that the whole area around there is going to change hugely. Mind you if that’s the case the station would need to be rebuilt. The article discusses converting the market to a social space to make the most of the new Museum of London…

Post by refulgentis » Thu, Nov 28, 2024, 2:20 AM UTC

forgetfreeman wrote: post #66

refulgentis wrote: post #26

Earlier quoted context omitted.

I know I'm supposed to say no, but...yes I do believe it. I have a proof, too long to be contained within the margins of this page, that when supply goes up, price goes down

Go for it. Econ 100 textbook bs about supply and demand are trivially dismissed by a casual examination of housing and rental prices in the US in gentrified areas. What happens when the real world intrudes on academic platitudes is rather straightforward: pricing for everything goes up and the folks who were struggling get pushed out. Nobody who couldn't afford housing in the market before the shift is served.

Post by qingcharles » Thu, Nov 28, 2024, 2:37 AM UTC

walrus01 wrote: post #51

cjs_ac wrote: post #2

> The decision to close the markets and offer traders compensation was made by the Corporation's Court of Common Council. > The Corporation will now have to file a Private Bill in Parliament as it seeks to absolve itself of the legal responsibility of running the markets. The Corporation in this case is the Corporation of the City of London, which is the local government authority for the City of London, which is onl…

> the local government authority for the City of London, which is only the part of London that is within the walls of Roman Londinium Also known as the most efficient and high volume money laundering machine ever devised by man. Do a deep dive into russian oligarch money and the City of London, from reputable journalism sources, and you won't like what you find. https://www.newyorker.com/magazine/2022/03/28/how-putin…