Links - I Couldn't Have Said It Better Myself

Literally

Oftentimes in these links I am simply sharing things people are doing a better job explaining that I myself can do. Call it: “My views better expressed”.

In one case we have Kevin Corcoran expanding upon the old economics joke/parable about bills on the sidewalk:

There’s an old joke about economists that usually goes along these lines:

Two economists are walking down the street. One of them says “Look, there’s a twenty-dollar bill on the sidewalk!” The other economist says “No there’s not. If there was, someone would have picked it up already.”

…

There is a real kernel of wisdom in this. When someone comes up with what they think is a brilliant new idea, it’s reasonable to ask, “If this really is a great idea, why hasn’t anyone else thought about it or done it?”

…

But I have a somewhat different view of the twenty-dollar bill on the sidewalk metaphor – one that I think bridges these two, and more accurately describes how markets work. 

In my understanding, there definitely are twenty-dollar bills on the sidewalk. But here’s the thing – the sidewalk is also really chaotic and dirty. It’s covered with leaves, mud, and clumps of lawn trimmings. It’s very easy for twenty-dollar bills to get mixed up in and covered by all the mess. And at the same time, this makes it very easy for your eyes to play tricks on you, and to think you see a twenty-dollar bill in what turns out to be a patch of leaves.

Be sure to read the whole thing. This has always been my view regarding this joke/parable. I just cannot say it so succinctly.

In the other case we have Christian Britschgi discussing the pros and cons of homeowners associations (HOAs):

Once created, these organizations (like many organs of local government) end up being controlled by people with extremely restrictive preferences. That's even more likely if most homeowners are apathetic about being part of an HOA in the first place.

Nevertheless, the new Colorado law bans HOAs from adopting home business bans regardless of whether the HOA was voluntarily created.

To be sure, distinguishing between HOAs that are truly voluntary creations and those that were involuntarily foisted onto property owners is probably impossible for the purposes of legislation.

The best thing that policymakers can do now is to get rid of local or state policies that could force property owners into such arrangements.

This piece captures very well my ambivalence regarding HOAs. Great in theory, mixed in practice, and occasionally awful. That is all aside from the fact that I am allergic to the Gladys Kravitzes of the world.