Just One Thing: Uber and Lyft chased out by economorons
One of the persistent characteristics of the left’s approach to economics is a weird assumption that people and businesses don’t react to incentives. For example, they raise taxes while assuming that people will keep trying to earn and declare as much income as before, even though it NEVER works that way. One wonders what’s in the minds of leftist lunatics on the Minneapolis City Council who are imposing a minimum wage for rideshare, like Uber and Lyft, drivers, that is so high as to be economically impossible. Uber and Lyft have now said they will leave the city on May 1 when the law takes effect. Maybe the state will override the city and the companies will return. But in the meantime, citizens will be harmed by politicians who live in a socialist dream world.
Uber and Lyft say they will leave Minneapolis on May 1 (fox9.com)
-
One More Thing: Words you don't know for things you do know
We'll cover most or all of these over the course of the show: 54 Everyday Things You Never Knew Had Names. - The Language Nerds
-
Today's Guests
Mike Munger is The Knower of Important Things, and a political science and economics professor at Duke University, Mike hosts a great and seriously economically nerdy podcast, “The Answer is Transaction Costs.” We'll discuss opportunity costs, including mention of some of the work and impact of Nobel laureate Daniel Kahneman, about whom I spoke a bit on yesterday's show. Again, I recommend you buy and read "Thinking, Fast and Slow."
The Answer Is Transaction Costs on Apple Podcasts
Michael C. Munger - Professor at Duke University (michaelmunger.com)
Opportunity cost story/lesson: A Fable of the OC - Econlib
Prospect Theory in Psychology: Loss Aversion Bias (simplypsychology.org)
Daniel Kahneman Dies; MLB Front Offices Felt Influence of His Groundbreaking Work (msn.com)
Daniel Kahneman Says Noise Is Wrecking Your Judgment. Here’s Why, and What to Do About It. (msn.com)
--------
Danielle Shoots is Managing Director and Founder of the DEMI fund which is suing the City and County of Denver for breach of contract and accusing the city of financial mismanagement, if not fraud.
Taxpayer returns unclear as DEMI Fund sues Denver seeking funds (denverpost.com)
Denver fund for minority entrepreneurship collapses after 2 years | 9news.com
Venture capital fund DEMI sues Denver, alleging violation of contract (denverpost.com)
--------
CU Physics Professor Paul Beale joins the show to discuss this: NASA Says T Coronae Borealis Nova Set To Create a "New Star" in a Once-in-a-Lifetime Event - The Debrief
Announcing T CrB pre-eruption dip | aavso
-
Other Stuff
The GOP nominee for the special election to fill about 6 months of Ken Buck's remaining term in Congress is...Greg Lopez?
I mentioned yesterday that there was a decent argument for choosing someone who isn't running in the GOP primary to fill the seat "permanently", i.e. through the ordinary general election process, going forward. This is slightly (but only slightly) bad news for Jerry Sonnenberg who came in second in the voting for the special...which also points to some strength for him in the primary. And this is slightly good news for the other leading GOP candidates in the GOP primary which I think are Lauren Boebert and Deborah Flora.
--------
Now THAT is what we call a bad night: Rockies drubbed in historic fashion by D-backs in opening night disaster (denverpost.com)
--------
The lunatics are running the asylum. Under new rules, the government can completely ignore economic impacts when deciding to place a species on the endangered species list or to restrict land use. Also, my understanding is that the new rules make it so that they can restrict land use in order to protect "habitat" for a creature that does not actually exist on that land.
Biden administration strengthens Endangered Species Act protections weakened under Trump (msn.com)
--------
What don't leftist politicians understand about basic economic incentives? Uber and Lyft say they will leave Minneapolis on May 1 (fox9.com)
Or is there something else at play, like bribes from taxi drivers/owners?
--------
I think most people have no idea what’s going to happen to their electricity bills, and it won’t be limited to states run by environmental radicals (like here in CO) though it will be worse in many of those places: The Coming Electricity Crisis - WSJ
--------
I owe you these from yesterday:
I really don't like Herod but I absolutely despise lawfare and harmful false charges and I'm glad she won here, assuming the charges are indeed false: Sexual assault allegations against Rep. Leslie Herod "unsubstantiated," judge rules - Axios Denver
---
Sure, why not: ‘Titanic’ Door That Saved Kate Winslet Sells for $718,750, Beating Indy’s Whip (yahoo.com)
--------
Which one of these things looks better to the average voter?
Trump attends NYPD officer's wake as he highlights crime on the campaign trail
--------
Of course it comes from Faith Winter, the worst member of the State Senate, and that's saying something: Weissmann: Dating apps are awful; a Colorado bill will make them worse - Complete Colorado
Online-Facilitated Misconduct & Remote Tracking | Colorado General Assembly
--------
FYI: When the 1stBank Center will be demolished in Broomfield (kdvr.com)
--------
Seems about right to me. The fact that the victims will likely get their money back is amazing. I wonder if the trustees are still holding Bitcoin and/or other top-tier (if there is such a thing) crypto and if that's much of the reason why. A Tough Sentence for Sam Bankman-Fried - WSJ
--------
I can imagine this being true, but don't make the mistake of thinking that this means that government should mandate (or fund) babysitting: Child care benefits for workers effectively pay for themselves, new study finds (axios.com)
--------
Weird how well this ties in with the Aurora pit bull ban story from yesterday as far as legislators trying to do the opposite of what voters already did: Colorado bill would limit hard liquor sales to liquor stores (kdvr.com)
-
Today's Videos
I can't do any of this
Evil killer wallaby!