Another Example Of 3rd Parties Paying The Costs Of A For-Profit Business

SF Allows The Treasure Island Developers To Shift The Costs From Themselves To Everyone Else

  • Things that are great for a few people with lots of power are often terrible for many people with little power.
  • Point Two: Transactions between two parties often impose collateral costs on third parties. If you don’t force the parties to add those costs into the price of the product, that product will be priced below its real cost and third parties will be forced to subsidize the transaction without their consent.
  • People who will have moved to the island in search of more affordable housing will see their housing costs go up by $3,200 per year per person or about $6,400/year per year for a couple.
  • Workers who are already struggling to make ends meet will see their pay decreased by $3,200/year plus the hours they will lose sitting in traffic.
  • Then they’d have to wait for the bus, for which time they will not be compensated.
  • They’ll get on the bus, which they will have to pay for.
  • When they get to SF or Oakland they will have to wait for another bus to get to where they’re going. More uncompensated time.
  • Then they’ll have to pay for that second bus.
  • At the end of the day they’ll have to do it all again, paying in time and money at each step of the way.

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David Grace

Graduate of Stanford University & U.C. Berkeley Law School. Author of 16 novels and over 400 Medium columns on Economics, Politics, Law, Humor & Satire.