At a time when Congress is trying to cut federal spending, political reporters often confuse two homophones and write “reign in spending” instead of “rein in spending.”
Here’s a visual guide to help writers distinguish the two.
Like many urban problems, the decline of walkable, livable urban centers can be traced to government intervention. In *Triumph of the City, *Ed Glaeser argues that restrictive zoning regulations served only to distort markets, artificially limit density and make dense areas unaffordable.
In a new article for Cato Ubound, Donald Shoup argues that minimum parking requirements—which require developers to build a certain number of off-street parking spaces—have promoted auto-oriented urban design over denser, more walkable forms:
First, parking requirements prevent infill redevelopment on small lots, where fitting both a new building and the required parking is difficult and expensive. Second, parking requirements prevent new uses for many older buildings that lack the parking spaces required for the new uses…
Removing a parking requirement is not the same, however, as restricting parking or putting the city on a parking diet. Rather, parking requirements force-feed the city with parking spaces, and removing a parking requirement simply stops the force-feeding. Ceasing to require off-street parking gives businesses the freedom to provide as much or as little parking as they like. Cities can remove minimum requirements without imposing maximum limits, and opposition to parking limits should not be confused with support for minimum requirements. Minimum parking requirements may be our most disastrous experiment ever in social engineering, and ceasing to require off-street parking is not social engineering.
Over at Market Urbanism, Stephen Smith points to a study on how parking minimums distort builders’ decisions. The study, Smith says, finds “that at least half of all non-commercial properties have more parking than they would otherwise choose, and that the excess can oftentimes be quite large.”
Megan McArdle explains that the complexity of accounting practices means it’s perhaps futile to try to design a corporate tax without “loopholes” of any sort. “A corporate income tax,” she writes, “needs to start by calculating income, and as anyone who has ever looked at a corporate financial statement knows, that’s really complicated.”
Last but not least, Trent Hamm makes the case that your leisure time should not be spent idly. Leisure time, he writes, “can provide all the space you need to take on personal goals and get involved in things you might not otherwise enjoy.”
Russ Roberts points out that Japan’s fuel shortages are no mystery and that the solution isn’t more regulation. Shortages are a result of price controls that keep a scare product artificially inexpensive.
Last but not least, Dan Mitchell rounds up the late-night hosts’ cracks about Libya. My favorite, from Conan: “It’s being reported that Moammar Gadhafi is surrounded by an élite core of female bodyguards. In a related story, Charlie Sheen invaded Libya.”