Must-Read: It's not just progressive NIMBYism. The conservative Republican Jarvis-Gann--Proposition 13--changed the balance of local public finances, and makes it expensive to develop. Thus the standard boosterist orientation of municipal governments that offsets NIMBYism has now been gone in California for more than a generation
OK, Brad Delong, here is a question. In the Keynesians equation, how does this fit into G, because in your entire career, except your pension and Prop13, you assume there is only one G, the swamp G.
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