In this article about food trucks, Ed Glaeser doesn’t mention their educational value: They allow people with a new idea to test it relatively cheaply. If it works they can expand. I saw this happen in Berkeley. A food truck that sold stuffed potatoes eventually became a store that sold the same thing. Food trucks don’t merely create jobs, they can create the best kind of jobs: Those that provide new goods and services. Unlike jobs created by building dams or highways.
Any advanced economy needs a constant stream of new goods and services to replace the ones that are inevitably lost. It goes against the survival instincts of people in power (government officials) to help those at the bottom (e.g., potential food truck owners) because they seem so much less powerful than those at the top (e.g., restaurant owners) who are threatened by those at the bottom.
All this should be utterly obvious — as it is to anyone who has read Jane Jacobs on economics. But it isn’t. In science, too, every field needs a constant stream of new empirical effects (in experimental psychology, new cause-effect relationships) to replace the ones that have been studied to death. So every field needs a cheap way of searching for those effects, but no field, as far as I know, has such a way. In science, editors and reviewers are like government officials. They can discourage new ideas (food trucks) by enforcing “high standards” (regulations) whose costs they fail to understand.
Via Marginal Revolution. “[David] Westin’s biggest weakness [as head of ABC News] was that he lacked the entrepreneurial spirit to launch innovative and creative ventures.”