February 27, 2008
Those Who Fail to Learn from History ...

... write articles in The Chronicle of Higher Education calling for common property bicycle programs. Case in point, this article (sub req) from one William Jefferson Clinton:

Over the course of history, students and universities have played important, often transformative roles in guiding us toward a healthier, more equitable, sustainable, and prosperous global community....

To tap into [students'] enthusiasm, optimism, and passion for change, I have started the Clinton Global Initiative University...

Like each member of CGI, each participant at CGI U. ... will be responsible for making a commitment to take action. ... Student groups might mobilize large numbers to advocate for human rights, create microfinance funds for young entrepreneurs in the developing world, or create citywide bike-share programs.

Over the course of history (to borrow a phrase from Mr. Clinton), there have been many failed bike programs.* (Examples here.) The students attending CGI U. would be better served by teaching them about property rights.

Students would also be well-served to learn about how entrepreneurs and technology can overcome tragedy of the commons problems. For example, bike programs work well if they require bikes to be checked out with a credit card or cell phone. (Example here.)

*I have also heard of one program that both appears to work and to be a true open access program. It is the white bikes program in the Netherlands' Park De Hoge Veluwe. I'd welcome any info that readers might have on the program. Does it truly work (in the sense that it is open access but doesn't have problems with theft or abuse)? If so, why?

HT: George Leef and Shawn Regan

Posted by E. Frank Stephenson at 03:20 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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