Do all Miami locals have the same interests?

Different people not only have different preferences or values ​​but also have to face different situations regardless of the level of equality in their society. Not surprisingly, these two sets of conditions generally refer to different assessments of specific social (including economic and political) events.

A common example is given by a headline yesterday The Wall Street Journal: “Miami locals excited about renting apartments to New Yorkers.” The subtitle reads:

Apartment rents in the Miami area have risen 58% in the last two years and in some cases have doubled compared to last year

Some apartments, condos, or rental homes may belong to “bad” landlords outside of Miami, but not all. Housing rent increases bring similar benefits to Miami residents who may decide to rent their home or part of it. Thus, the rent increase represents a cost for some Miami residents but an advantage for others. (True that this is a Opportunity costs For all-real estate that is not rented out deprives their owners of higher rental income এই does not change the fact that higher rent represents an increase in the property value of any Miami resident; It increases their chances.) Why The Wall Street Journal For one team or another? To play politicians?

Bad economies support bad politics. Tribalism, “our” against “them”, is hidden at the very bottom of the surface. A Miami tenant complained:

We are being chased by people who are not local Miamians, ”he said. “It simply came to our notice then.

Miami locals have not the same interest in housing, maid service, groceries, or the price of hula hoops. AnywayংAnd the second idea to understand it — they have, like the rest of mankind, a General The general interest in pricing in the free market so that they send the right signal about the relative scarcity of resources and the relative intensity of demand for different products and services. General prosperity depends on the correct price signal. People have a general interest in being able to make voluntary exchanges that set these prices. While it is true that understanding such a general interest in a free society requires some knowledge of economics, a complex problem that James Buchanan mentions.

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