Whether we can do so may turn on whether the binding constraint comes from regulation or from the market.

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The binding constraint on San Francisco real estate is regulation.

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The larger economic case is that while of course I agree that there is a real constraint on economic growth from resource depletion, I think that that as a binding constraint is a lot further away than many seem to realise.

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Rather, it challenges teams to make short-run and long-run resource allocation decisions in the face of a binding fiscal constraint.

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U.S. investors do not have some exorbitant skill that would make our international budget constraint any less binding.

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