A unanimous Supreme Court agrees: the Nollan-Dolan test applies to impact fees/exactions whether they are imposed via legislation or ad hoc project reviews. This isn't as strong of a decision as I would have liked, but a step in the right direction. 🧵 supremecourt.gov/opinions/23pdf…

Press Release: SCOTUS rules government cannot use permit process to coerce property owners

Today, the Supreme Court unanimously ruled that legislatures cannot use the permit process to coerce owners into paying exorbitant development fees.

pacificlegal.org/press-release/…

The owner of the Oakland Athletics—who is worth $3.1 billion—yanked his baseball team from Oakland because the public didn't want to pay $855 million for his new ballpark.

Now voters in Las Vegas, where he wants to move, also look poised to say no.

You love to see it.

1) I did a deep dive on the debate over whether social media is ruining teens' mental health. TLDR: The evidence is much weaker than Jonathan Haidt suggests, but not as negligible as his critics claim.

vox.com/24127431/smart…

Would people be less nostalgic for the 1990s if they knew that Book It! still exists?

bookitprogram.com

Many people are saying this

stlouisfed.org/institute-for-…

Why is the economy (and inflation) so resilient?

Yardeni Research argues it’s Baby Boomers — “the richest generation of senior citizens in the history of the United States” — spending their pig-in-a-python, record net worth on travel, health care, financial services.

They “watched a…

The speed with which South Korea modernized is mind-bending

North America leading the way

Facts beg to differ.

President Biden has presided over a historic reduction in wage inequality fueled by strong real wage growth at the bottom and middle--benefiting working class Americans.

It's true that the 'last mile' in reducing CPI inflation may take time. But that's because it's driven by OER, an imputed number reflecting stale prices.

And that's a dumb thing to base policy on.

If you don't use OER--the European HICP does not--this is what it looks like.

humiliating. looks like shit. yet another massive W for earth, the best planet in the universe

Middle class Americans live in the richest country on earth at a time of unprecedented global prosperity and have let online ragebait convince themselves that they are living through awful historical circumstances.

slowboring.com/p/were-living-…

These 11 supposedly frighteningly consolidated mega-companies, nine of which primarily make snacks and soft drinks (which is a lot of competition), represent about 0.5% of worldwide GDP.

Income transfer programs amplify the U.S. federal tax system’s progressivity, move the state and local system from moderate regressivity to moderate progressivity, and result in a highly progressive fiscal system overall.

The lowest quintile of Americans receives a net of 127…

Who says there is no deflation?