Outside the Bristol Zoo, in England, there was a parking lot accommodating 150 cars and 8 buses, manned by a cheery bloke who collected £1 for each car and £5 for every coach for over 25 years until, one day, he didn't show up.
"Oh, well", said the Bristol Zoo officials, "We'd better phone up the City Council and get them to send a new attendant." But "No", said the City, "That parking lot is totally your responsibility." "No, it’s not,” replied the zoo, "You employed that attendant, didn’t you?" "No, we did NOT!” insisted the Councilmen.
And so, sitting in a lovely villa somewhere on the Costa Brava, is a happy chappie who’s been collecting parking fees at the Bristol Zoo estimated at about £400 a day for 25 years, amounting to about £3.6 million (or $7 million USD). And no one even knows his name! - From The London Times, May 15, 2009
via Planet Proctor (pdf)
gn failures, however, derive from the political nature of any large special stimulus. Beck
Posted by: chanel bags | 11/10/2011 at 02:18 AM
Keynesian stimulus can fail in many ways. Becker notes that it is usually late. Posner suggests that it doesn't have to be late, but it should be better designed. Both the timing and the design failures, however, derive from the political nature of any large special stimulus. Becker seems closer to the point. Whether its late our designed with an eye to political favorites, stimuli passed by legislatures are bound to be economically inefficient.
Posted by: ugg boots | 10/05/2011 at 07:41 PM
Use good grammar and write complete sentences.*
Posted by: coach factory stores | 11/16/2010 at 01:02 AM
Urban myth of the Bristol Zoo parking attendant
Posted by: Tom McMahon | 08/11/2009 at 05:31 AM