As I mention here, San Francisco once dealt successfully with disaster by letting the market work. With drastic shifts in prices came significant adjustments in both supply and demand. But that was 1906. Today we have a more overtly market-friendly man in charge:

April 30, 2007

Left Coast Road Socialism and the Market-friendly Governor

B.K. Marcus

Yesterday afternoon, my friend, who has recently moved to the Left Coast, pointed to this blog to alert me to the fact that MacArthur Maze, "the complex of freeways where Berkeley, Oakland, San Francisco, and all the traffic from the East and South Bay area come to a head," has collapsed again.

("Again?" Yes, again: the exact same spot that collapsed in the 1989 earthquake.)

My first thought was, of course, "road socialism." The blog author concludes it's corrupt government, without any apparent sense of redundancy.

Last night, my friend wrote me again:

One of the first things I thought was "Oh, ferry and BART prices are going to skyrocket," as that would be the normal (aka market) method for balancing the suddenly decreased supply of "transportation between the East Bay and SF."

But no.

http://bart.gov/news/features/features20070429.asp

I'm gonna have an interesting commute tomorrow.

So Governor Schwarzenegger — who has claimed that the two people who have most profoundly impacted his thinking on economics are Milton Friedman and Adam Smith ("At Christmas I sometimes annoy some of my more liberal Hollywood friends by sending them a gift of Mr Friedman's classic economic primer, Free to Choose") — thinks the best way to deal with sudden changes in supply and demand is to obliterate the price system.

So much for electing market-friendly politicians.

April 30, 2007 10:16 AM | comment | Digg | contact B.K. Marcus | other posts

(Many thanks to Choicy White Boy.)