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
-
-
Cutting crime over the last quarter of a century has likely added trillions of dollars to real estate values in New York City alone.
3 replies 8 retweets 60 likes -
Replying to @Steve_Sailer @bartonwillage and
I suspect we could do a back of the napkin calculation of increases in incarceration costs over the time period - that are socialized - in relation to real estate costs over the same period - that are privatized, and have an interesting conversation.
1 reply 0 retweets 1 like -
Replying to @curtdoolittle @Steve_Sailer and
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
1 reply 0 retweets 0 likes -
Replying to @CovfefeAnon @Steve_Sailer and
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.
1 reply 0 retweets 0 likes -
Replying to @curtdoolittle @CovfefeAnon and
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.
2 replies 0 retweets 1 like
Yes, having high return people around other high return people is key for generating value but you can't explain slums via economics - you need a lower level model that accounts for the use of violence to hold territory (and a political model for why that's accepted)
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.