Geraldo Rivera as Coase
Just watching the O’Reilly Factor a few minutes ago, I saw Geraldo Rivera make an interesting proposal about the controversial mosque/athletic facility/culinary school/art studio near ground zero in Manhattan. He started by stating out that the current owner of the site “stole” it. The word “stole” got my attention, but it turns out that all he meant is that the owner paid a fire-sale price. Geraldo claimed that the owner has made it clear that if he can get a “reasonable” price for the property and can find another suitable property south of Houston St., he would be willing to sell. Let’s assume Geraldo is correct. Now if even a few of those people who are so upset about the mosque/athletic facility/culinary school/art studio being built put their money where their loud mouths are, the problem is solved. Property rights tend to solve problems.