Press Space to continue
The Tragedy of the Anticommons in Modern Markets
Press Space to continue
Twenty men each took a little money from one traveler and together they cost their city every visitor he would have sent for years. Economics has a name for this. In 1998 a Columbia law professor named Michael Heller was in Moscow after the Soviet collapse and noticed something strange. Storefronts on the main streets sat empty while flimsy metal kiosks crowded the sidewalks right in front of them. The shops weren't unusable. They just had too many owners. Privatization had handed out rights…
@Sep 2
🇨🇳🇳🇬 A Chinese travel creator was trying local food at a market in Nigeria when a group of men stopped him and demanded money. When he asked why, their explanation was basically: "we’re Nigerian, you’re not, so we can take money from you." Over roughly 10 kilometers, he says he passed more than 20 checkpoints and was asked for money again and again. His final travel review? “Don’t come to Nigeria.” Writer: Sol https://t.co/HDmDE2XQm7