This is a fact that is not widely known or appreciated.
1/OK, let's take a little break from Coup Twitter, and think about an economic issue:
How can we build up the wealth of the middle class?
This is a fact that is not widely known or appreciated.
https://t.co/rcRHSHkTMd
Yes, these numbers don't include things like Social Security, just privately held wealth. They're not an attempt to capitalize every possible future income stream.
— Noahtogolpe \U0001f407 (@Noahpinion) January 10, 2021
Then the housing crash came, and all that changed. Suddenly the rich were still doing well but everyone else was seeing the end of their American Dream.
Because the American middle class has its wealth in houses -- specifically, in the houses they live in.
It's the rich who own stocks.
Well, the option we've apparently chosen so far is just to tell people "Suck it up. Start at the bottom, and save it all back."
Seems a bit inadequate, no?
Can we still use housing to generate broad middle-class wealth? Should we?
As long as people and companies keep moving to cities, the value of urban location (i.e. land) will appreciate.
Doing so presents some obvious problems. It invites NIMBYism -- homeowners leveraging local government to push up the prices of their homes, even at the expense of the economy.
For one thing, most people SUCK at stock investing, but most people kinda-sorta understand homeownership.
It's hard to completely revamp our wealth-building system. We may simply be locked in.
That's a tricky trick to pull off!
https://t.co/2GwiFm7rib
(end)
https://t.co/Ask8xPgBrg
https://t.co/FGppA1M8W6
More from Noahtogolpe 🐇
To be honest, I think this is just the effect of Twitter.
If you're on Twitter all the time - as every political commentator now is - it's easy to think that whiny, big-talking Twitter slacktivists are "the Dems".
But what's happening out there on the ground?
This is another reason I think Twitter is so bad for society.
It convinces intellectuals and commentators that practically everyone who's on their side is an extremist.
Which makes them tolerate extremism out of a (false) feeling of necessity.
If you stay on Twitter too much (which we all do now), you start to think that the typical left-of-center person is some British wanker who quote-tweets "Imagine thinking this" to anyone who doesn't like the idea of "ending capitalism".
But he is not typical.
A majority of Americans are not on Twitter.
But *every* journalist, commentator, and intellectual *has* to be on Twitter.
So every journalist, commentator, and intellectual comes face to face with big-talking slacktivist faux-extremists day in and day out.
It's a problem!!
Online bubbles full of shouty faux-extremists are, in general, fine.
The difference is that every journalist, commentator, and intellectual is essentially forced to exist in THIS bubble, because their jobs require it.
Twitter is a dystopian technology.
(end)
If you're on Twitter all the time - as every political commentator now is - it's easy to think that whiny, big-talking Twitter slacktivists are "the Dems".
But what's happening out there on the ground?
— VeryHiddenGeniusHat (@Popehat) October 18, 2018
This is another reason I think Twitter is so bad for society.
It convinces intellectuals and commentators that practically everyone who's on their side is an extremist.
Which makes them tolerate extremism out of a (false) feeling of necessity.
If you stay on Twitter too much (which we all do now), you start to think that the typical left-of-center person is some British wanker who quote-tweets "Imagine thinking this" to anyone who doesn't like the idea of "ending capitalism".
But he is not typical.
A majority of Americans are not on Twitter.
But *every* journalist, commentator, and intellectual *has* to be on Twitter.
So every journalist, commentator, and intellectual comes face to face with big-talking slacktivist faux-extremists day in and day out.
It's a problem!!
Online bubbles full of shouty faux-extremists are, in general, fine.
The difference is that every journalist, commentator, and intellectual is essentially forced to exist in THIS bubble, because their jobs require it.
Twitter is a dystopian technology.
(end)
1/OK, so. Let's talk about Left-NIMBYism.
We all know about Right-NIMBYs, rabidly protecting their white-flight suburbs from Those People. And there are plenty of liberal NIMBYs too.
But NIMBYs of the Left are also a force to be reckoned
2/Left-NIMBYs have developed a canon of interlocking, mutually reinforcing beliefs about housing and urbanism.
These beliefs are mostly false, but they form a powerful "canon" that quickly ossifies into a hardened worldview.
It looks something like this:
3/Fortunately, Nathan J. Robinson of Current Affairs has written an article that perfectly encapsulates the Left-NIMBY worldview (and quotes me in it!).
So this is a teachable
4/Robinson selectively quotes a Bloomberg article of mine (https://t.co/iamRrW6oei).
Look at the part he quoted, vs. what I actually wrote!
Pretty different, eh? 😉
5/In fact, as I wrote in the article that Robinson failed to read more than one line of, it's theoretically possible that Left-NIMBYs COULD be right that allowing market-rate housing drives up local rents.
I take that possibility very seriously, as do YIMBYs.
We all know about Right-NIMBYs, rabidly protecting their white-flight suburbs from Those People. And there are plenty of liberal NIMBYs too.
But NIMBYs of the Left are also a force to be reckoned
2/Left-NIMBYs have developed a canon of interlocking, mutually reinforcing beliefs about housing and urbanism.
These beliefs are mostly false, but they form a powerful "canon" that quickly ossifies into a hardened worldview.
It looks something like this:
3/Fortunately, Nathan J. Robinson of Current Affairs has written an article that perfectly encapsulates the Left-NIMBY worldview (and quotes me in it!).
So this is a teachable
4/Robinson selectively quotes a Bloomberg article of mine (https://t.co/iamRrW6oei).
Look at the part he quoted, vs. what I actually wrote!
Pretty different, eh? 😉
5/In fact, as I wrote in the article that Robinson failed to read more than one line of, it's theoretically possible that Left-NIMBYs COULD be right that allowing market-rate housing drives up local rents.
I take that possibility very seriously, as do YIMBYs.
