The dismal science indeed...

This piece in Bloomberg on why public transit is not a public good just seems to me fundamentally dumb.

There's two bits to it. Once is a sort of technical analysis of what is considered a "public good" in economics, and why transit doesn't meet the criteria.

Who gives af how economists define it? Or more properly perhaps why tf should we get hung up on that? What's the point with that?

The other part is about why it might not be a good idea to make public transit free.

There are errors in both parts.

#PublicTransit #DismalScience

https://www.bloomberg.com/news/articles/2023-03-30/no-transit-is-not-a-public-good-here-s-why

'There's nothing special about the Fed's target inflation rate; some accounts suggest the figue comes from a New Zealand TV interview in the '80s.'

But the media regurgitates what the Fed says as if it's coming down from the mountain on tablets.

#Journalism #Economics #DismalScience #FederalReserve

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Two Percent Is Just A Number

https://revolvingdoorproject.substack.com/p/two-percent-is-just-a-number?utm_source=post-email-title&publication_id=3976&post_id=109043582&isFreemail=true&utm_medium=email