What do luggage carts have to do with real estate? Glad you asked. If you can understand politics and economics, you can understand much of what happens in the world. A common sentiment in New York politics is that people should get things for less than they cost, or even free. This explains rent stabilization, at least since 2019. But today’s example is the humble airport luggage cart. Tim Wu, the semi-famous Columbia professor (of law, not economics), tweeted that a $6 fee for carts at Kennedy Airport “just feels extractive” to a family with a lot of luggage. “Nothing […]

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