Friday, March 16, 2012

Why we will never run out of oil

The New York Times has discovered the price mechanism as it applies to parking meters, and is so amazed that the story is on the front page: A Meter So Expensive, It Creates Parking Spots. San Francisco is the city that is trying the "ambitious experiment." Guess what? We haven't run out of parking spaces! It's only that parking spaces have been priced too cheaply. When priced sufficiently high ($4.50 an hour seems to do it), a spot opens up for you--not in front of your door, perhaps, but on your block. California has tried everything else, so I suppose it was inevitable that one day it would try elementary economics. Blue skies! -- Dan Ford


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