The Economics of Seven50 and Sustainable Development



Seven50 Economics and Sustainable Development

Learn About the Economics of Seven50 and Sustainable Development

seven50 newsSeven50 is the implementation of sustainable development practices that are based on faulty economics.  The economics of Seven50 will provide for the central planning of resources of homes, businesses and farms to be put to use by bureaucrats and quasi-government agencies for special interests under the guise of the public good.

Somewhere along the way, during the last 50 years, the critique of capitalism changed from condemning its failure to spread the wealth to condemning the very opposite. Suddenly the great sin of capitalism was that it was producing too much, making us all too materialistic, fueling economic growth at the expense of other values, spreading middle-class decadence, and generally causing society to be too caught up in productivity and too focused on the standard of living.

In noting this dramatic change, Murray N. Rothbard writes that the turning point might have been John Kenneth Galbraith’s 1958 work called The Affluent Society, which is one long harangue against consumerism, middle-class decadence, and the ever-increasing wealth of the average person under capitalism. Galbraith claimed that all of this was coming at the expense of public institutions and public infrastructure.

In 2006, John Bratland, an economist with the US Department of Interior, wrote in an essay that:

“the theory of intergenerational sustainability largely ignores

1. the valuations and actions of individual human beings,

2. the critical function of private property rights and

3. role of market institutions based on voluntary monetary exchange.

By ignoring these features of human life, the case for sustainable development provides no rational framework for dealing with emerging scarcities. The concepts of valuation, capital, and income only take on valid or coherent meaning in the context of individual action, private property and market exchange.” 2

Seven50 will produce an environment of economic malinvestment ending up like the recent housing bubble.  Seven50 cronies will profit while South Floridians foot the bill.

Economics Supports Free Markets and Private Property Rights

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Seven50 and All Aboard Florida have been recipients of tax money through the HUD Sustainable Communities Initiative yet neither is actually sustainable.

Sustainability advocates tell us: 1) that resources are limited, 2) that we are too inefficient for our own good, 3) that a unelected governing authority needs to decide what is the best allocation of our land, property and resources for us, 4) and thus lead everyone to prosperity with their ideas of sustainable development.

Still unmentioned today, 26 years later, is: 1) who decides what is and is not sustainable, 2) on what logical basis sustainability is calculated, 3) and exactly whose ‘good’ is considered for benefit.

The core of “sustainable development” is the notion of disciplining the consumption of consumers and producers. It consists of a self-appointed elite forcing needs and abilities of people against their will. But, needs and abilities cannot be determined arbitrarily by others; rather, it is derived by each individual according to their own unique, subjective valuation system. A central authority trying to determine the subjective valuation of other individuals consists of misallocation of resources (the same one’s we’re told to conserve) and market distortions (below market interest rates, industry specific stimulus) that inflate price bubbles (housing, commodity, stocks) causing an erosion of wealth.

I refuse to support the Seven50 plan and it's efforts to which usurp local and representative authorities decision-making and dictate the decisions with disregard to property rights.


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