More on the JC Penny failure, this time from Mark Perry (and the NYT). Mark has great commentary: business owners struggle to guess at what and how people will spend their money. It’s the entire lifeblood of the business owner: struggling to make the correct guess. Most fail. So why do we think that master planners, politicians, and other top-down advocates can get it right?

Senator Ivy understands the complexity. Senator Beal does not. Wacky antics ensue

-JD Cross