A former student asked about the overall effect of (mass) incarceration on the US economy. I have no idea of any research on this. Anyone have thoughts about potential references? @causalinf @jenniferdoleac
Real estate values are the private estimates of the value of getting to live or work in a certain place. A low crime NYC generates massive gains some portion of which are privatized
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Not quite right. Real estate prices reflect the extreme discount in opportunity costs provided by economic velocity in a given population density. IOW: WHO lives there (economic velocity) is far more important than your cheap access to the discounts created by those living there.
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This is why city centers are impossibly expensive, generate outliers in core businesses and industries; why cities are surrounded by slums (unproductives), and they are surrounded by suburbs (productives). Having high return people near high return people is the most important.
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