Thursday, March 29, 2007

Parking, pricing, politcking

Every econ freshman learns (or hears) that when the prices are wrong, bad things happen. And prices can be woefully wrong when set without the help of markets -- and dreadfully wrong when set by politicians. But before Don Shoup's masterful work, did anyone guess how much damage mispriced parking really causes?

Don manages to relay much of this in the compact space of an op-ed in today's NY Times.