business_ethics_highlights_2Declining economic dynamism is a concern we usually associate with the U.S. political ‘right’. Increasing economic inequality is a concern we usually associate with the U.S. political ‘left’. This piece in The Atlantic is interesting because it advances a thesis cross-cutting both the political spectrum and well-worn narratives about the sources of these economic ills. The most novel aspect is that it traces both declining economic dynamism and increased economic inequality to local public policy—particularly, to local land-use policies. The combination of zoning restrictions, greenspace ordinances, highrise restrictions, etc., prevailing in the most economically productive and dynamic locales (e.g., Silicon Valley, Los Angeles, New York, Boston) erect a significant barrier to entry in the form of high real estate prices. This sees Americans migrating toward cheaper real estate rather than toward greater opportunity. The problem is that the locales with cheaper real estate lack the cultural and financial infrastructure to…

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