Asymmetrical Information - Megan McArdle
01.22.13 6:58 PM ET
Quote of the Day
From Matthew Yglesias, on a lunatic proposal for a liquor license moratorium in the neighborhood where I lived before I got married:
People sometimes seem to have this fantasy that if they reject enough liquor license applications they're going to magically recreate a 1950s local retail ecology out of The Death and Life of Great American Cities but you can't actually do that without reverting to 1950s technology and demographics. Nobody's giving up Amazon, and nobody's giving up their ability to take a Zipcar out to Ikea. What you get are empty storefronts, lower tax revenue, and fewer employment opportunities.
I grew up with that retail environment. I would love to still live in it. But unless you've got a secret plan to outlaw not only Walmart, but also Amazon and the internet, you should probably start thinking about viable plans for second-best. And in the District of Columbia, that's food, alcohol, dry cleaning, and a very limited number of high-end goods distributors.