The Opera Centre

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  • #780670
    pigtown
    Participant

    You’re right on both counts there Griff. I just like imagining how Limerick could be more of a destination in the country, rather than the also ran compared to Dublin/Cork/Galway.

    #780671
    Tuborg
    Participant

    I see Savills have erected new banners advertising the sale of the opera centre site.

    The Irish Times are reporting that €12.5 million is the guide price.

    Despite murmurings of a number of parties showing an interest. You’d have to wonder who could possibly be in a position to get hold of the finance to take on this massive project?

    Of course any potential bidders could well have other plans for the site aswell.

    €110m development site back on market at €12.5m

    JACK FAGAN

    A DEVELOPMENT SITE for the proposed Opera shopping centre in Limerick city centre, sold at the peak of the property boom for €110 million, is back on the market at a mere €12.5 million. The collapse in value underlines how much even prime retail sites have fallen in cities as well as towns. It also reflects the difficulties in securing funding for large-scale shopping facilities.

    The 2005 sale of the rundown, vacant buildings off Patrick Street in Limerick is frequently cited among the great excesses of the property boom along with the €417 million purchase of the Irish Glass Bottle site in Ringsend and the €315 million acquisition of the Millennium Park in Naas.

    Estate agents Savills are to launch a marketing campaign today to find a buyer for the 3.2-acre site which has planning permission for a multi-storey shopping centre with 38,541sq m (414,855 sq ft) of retail space and an underground car park. The sale has been called by developers Gerry O’Reilly, Terry Sweeney and David Courtney of Regeneration Developments, whose loans have been transferred to Nama.

    The move to sell the site for the proposed €300 million Opera Centre comes only weeks after the Danish bank NIB reached agreement with an Indian-born developer, Suneil Sharama, for him to take control of a partially built shopping centre along the Dublin Road on the outskirts of Limerick city. Liam Carroll’s Zoe Group abandoned the 15-acre site for the Parkway Valley shopping centre about four years ago when its business collapsed. Local planners are now expected to allow an extension of time on the planning permission for the 39,650sq m (426,792sq ft) retail complex.

    Coincidentally, the new promoter for that scheme, Mr Sharma, who is based in the North, is more familiar with the site for the Opera centre than anyone else – having quietly assembled the inner-city quarter along with another investor, Sam Morrison, over a number of years before selling it for an astronomical price to Regeneration Developments.

    Limerick city planners granted planning approval for the Opera Centre in the hope that it might help to shift the balance back in favour of the city, which has been in serious decline for many years following the indiscriminate development of more than half a dozen shopping centres in the county-council areas adjoining the city boundary.

    Footfall in the city centre has dropped dramatically in recent years as big-name overseas traders opted for out-of-town locations, leaving only three high-profile stores (Penney’s, Brown Thomas and Debenhams) with a broad appeal to city shoppers.

    Many of the city’s once-thriving retail streets, including Patrick Street, William Street and the modern Cruises Street, have lost both traders and shoppers. Limerick is the only city in Ireland where rents in out-of-town shopping centres are almost twice as high as those in the city.

    Much of the decline in city-centre trading is due to the way the county planners allowed the Crescent shopping centre to grow like Topsy. That trend was finally scuppered last year when An Bord Pleanála overruled the county planners and refused the Dublin-based owners (the Kenny family) permission for yet another major store with a floor area of 9,754 sq m (105,000 sq ft) for Marks Spencer.

    The new Government’s recent decision to amalgamate the two local authorities is set to change future planning in the city and county. With Marks Spencer still to decide where to open its first Limerick store, Parkway Valley and whoever acquires the Opera site will both be pitching for the UK multiple as an anchor.

    One developer who may take another look at the Opera site is Michael Tiernan, whose Arthur’s Quay shopping centre on the opposite side of Patrick Street has become quite dated. However, if linked up with the proposed new shopping complex it has the potential to turn around the city’s fortunes.





    #780672
    Anonymous
    Inactive

    @Tuborg wrote:

    You’d have to wonder who could possibly be in a position to get hold of the finance to take on this massive project?

    Of course any potential bidders could well have other plans for the site aswell.

    It looks like as if the Opera Shopping Centre project is now dead.

    The City Council will now start looking at other options for this block as part of the Regeneration projects.

    Opera Centre site bought by Limerick City Council

    http://www.limerickleader.ie/news/business/opera_centre_site_bought_by_limerick_city_council_1_3262927

    By Anne Sheridan

    THE Limerick Leader can confirm that Limerick City Council have bought the Opera Centre site with funds made available from the Department of the Environment’s Regeneration budget.

    The announcement has been confirmed by Minister for Finance Michael Noonan this Friday afternoon, who said he hopes “it will get life back into the centre of the city.”

    “Regeneration means more than regenerating the suburbs with social problems,” the Minister told this newspaper. “The biggest regeneration challenge in Limerick is to regenerate the city centre. We were afraid the Opera site would go to a developer who would sit on it for 20 or 30 years and we’d be left with all this dereliction, with no possibility of developing it,” he said.

    Minister Noonan said the department had funds left over from its Regeneration budget this year, which they allocated to Limerick City Council to purchase the site from the National Assets Management Agency (NAMA).
    He said an urban development plan will be drawn up for the site in three months, which is expected to become “a commercial, cultural and social hub.”

    “Obviously we’ve only ideas yet, but we want to get the professionals in, and plan the whole area from the docklands right across.”

    It is understood the council have been in discussions with the University of Limerick and Limerick Institute of Technology regarding having student residencies in the massive complex.

    The sale was concluded this evening.

    Peter O’Meara, the agent in Cork with Savills, said he was “delighted” the sale had gone through, which he said is “great for Limerick.”

    While the cost of buying the site has not been revealed, it had been reduced in price to €12.5m, after its value plummeted from over €100m a number of years ago.

    A statement is expected shortly from the Minister for the Environment Phil Hogan.

    #780673
    Tuborg
    Participant

    Game over it would seem.

    Six years on from the first planning application and the site remains untouched and significantly worse for wear.

    On the one hand it’s somewhat encouraging to finally see some movement on this. Afterall it is over two years since An Bord Pleanala handed down their final verdict. However I find it difficult to muster up any enthusiasm at the prospect of the State overseeing the regeneration of this area. We’ll probably end up with more social housing units being developed. :crazy:

    The existing plans are not without their flaws of course. But I reckon the shopping complex would have been the safest bet in terms of kick starting the process of injecting some life back into the city centre. A city centre that urgently needs to improve it’s dwindling retail offering.

    The spin off effects from this development could have been a catalyst for the renewal of other under utilised sites in the surrounding area. The so called market quarter for instance has huge potential and we should be encouraging more cafes. restaurants, bars etc to set up there.

    Overall Limerick City Council have as usual been extremely slow off the mark and blew a golden opportunity over the last decade or so to market this area for investment. You could argue aswell that had they adopted a more proactive approach during the planning stages of the opera centre. The complex could well have been up and running by now.

    #780674
    lukejr
    Participant

    I really would have preferred a private investor to come develop the Opera site. Instead we have tax payers money being used to buy the site from NAMA, and a plan being developed over the coming months after the purchase. Do Limerick City Council have the money to do anything with the site?

    I think we would have been better to offer the site and a €12.5m grant for any international retail/mall developer to come in and build the Opera centre. It would have brought external money into Limerick during development and greatly improved the retail offering of the city centre.

    Will wait and see the plan for the site, hopefully it’ll work out, but really, the plan should have been in place before the tax payer paid for the site.

    #780675
    Anonymous
    Inactive

    Cáit Ní Cheallacháin, who fought a heritage battle with the various developers of the Opera Centre site during the planning stages, has written an interesting letter in this week’s Limerick Leader. See attachment.

    #780676
    teak
    Participant

    Right on, Cáit.

    My proposal is not a “mixed development” — or any other such stupid self-aborting proposal.

    I want it to be a real opera centre, plain and simple.
    Christ, don’t we all need a decent arena for concerts, big plays and maybe even the odd opera.

    By day it would be a training base and “home ground” for two dance academies, classical (ballet) and modern (e.g. for musicals).
    On no account are these dance academies to be appropriated into the greedy arms of UL.
    The Academy of Classical & Modern Dance must have their own separate distinct cachet.
    ALL staff to be foreigners of high accomplishment.
    ALL subsequent appointments to be “new blood” — i.e. no past graduates taking over the place à la UL post-Ed Walsh.
    Compulsory international exchange tours in summer season.
    Season ticket options for locals.
    All-in heritage venue card rate for tourists.

    “Freshman Dancers College” for enthusiastic paying locals / keep-fit people.
    Injury recovery exercise tutoring for sports- and lay-people.
    Poise and footwork classes for soccer and boxing enthusiasts.

    Why can’t we dream for a change and stop pretending that we need more “housing” in the centre of the city and in
    a totally inappropriate building ? :angel:

    #780677
    pigtown
    Participant

    You know I had thought of something similar. If the UCH could be persuaded to be transferred to a new Opera House on the site it would bring a lot of life to the city. And wouldn’t the old city hall be a lovely opera house entrance?

    #780678
    rumpelstiltskin
    Participant

    @pigtown wrote:

    You know I had thought of something similar. If the UCH could be persuaded to be transferred to a new Opera House on the site it would bring a lot of life to the city. And wouldn’t the old city hall be a lovely opera house entrance?

    In an ideal world, I wouldn’t like to see this site become a concert venue. I think the buildings in the area should be refurbished and be reopened to retailers. I thought the Opera Centre proposal was the right idea, although the whole aesthetic is a little too plasticky and the kind of thing that will become outdated pretty fast. Some attempt to incorporate the historic nature of the area alongside new retailers, like the Powerscourt Centre in Dublin, would be perfect.

    In terms of an concert venue, I think a new landmark building near the river, perhaps on the Dunnes site, would be ideal for that – something weird and wacky that adds to the riverfront in a modern way.

    This is all fantasy in the current climate though!

    #780679
    teak
    Participant

    In terms of an concert venue, I think a new landmark building near the river, perhaps on the Dunnes site, would be ideal for that – something weird and wacky that adds to the riverfront in a modern way.

    A lot of buildings compete for Shannon river frontage, not least the UL Architecture’s proposed new City Library — a very worthy case for a new building — down in the corner of the old potato market.

    Sure, a concert hall entrance from the Charlotte Quay won’t generate as many adoring photo backdrops.
    But the site is big, fully developable and I think a good public works architect could readily blend the new part of the building with the old Granary stonework façades.

    This is all fantasy in the current climate though!

    But Fantasy exercises the Soul . . .

    #780681
    teak
    Participant

    I see that Jim Long now expects to go 20 m down before he can commence work proper on building the new centre.
    I’d estimate that the bedrock is at most 6 m below the surface. And the water table well above that level.
    Considering that the overall footprint of the site is very large, do we really need so many levels of car-parking ?
    And at what cost, given the amount of rock needing to be drilled out ? And how much sealing of the perimeter, as well as redirection of drainage from neighbouring sites needs to be done ?

    Clearly, our Jamsie is being taken for a ride by the promoter.
    To avoid another wart on the Limerick skyline, I’d be happy that Jim and all the rest of the council went on a one-off junket to Milan to see the Galleria Vittorio Emanuale II. If we must have a new shopping arcade, let it be tasteful.

    #780680
    bjg
    Participant

    Perhaps hizzonner would like to read this: http://www.lamag.com/features/Story.aspx?ID=1568281

    bjg

    #780682
    PaperArchitect
    Participant

    The last thing Limerick needs is another shopping centre, and something as large and grotesque as the opera centre. I’d like to see streets running through the site, alternating between inside and outside. The site is far too large to dedicate to indoor shopping. Definitely, the principles of the Galleria Vittorio Emanuale II would be very welcome, but far beyond Limerick City Council. Who exactly makes the decisions in the council? Are there architects or urban planners in there? Or is Jim Long the head of the posse..

    #780685
    Tuborg
    Participant

    Some quite puzzling quotes attributed to the “economic director” of the forthcoming combined Limerick local authority in the press recently.

    http://www.limerickleader.ie/news/business/key-limerick-city-site-not-suitable-for-big-retailer-1-4609522

    It’s laughable really that the site which for the most part of the last decade was trumpeted by Limerick City Council amongst others as imperative to the commercial revitalisation of the city centre can suddenly be deemed unsuitable for this purpose despite being put through an exhaustive planning process twice.

    Let’s see;

    • It’s a large city centre site in dire need of a combination of redevelopment and conservation.
    • Immediately adjacent to established commercial, shopping and leisure areas.
    • Planning permission is already secured for a large retail project so obviously this type of development is acceptable in principle
    • The site is under the control of the local authority (although it’s hard to tell if this is a positive or an impediment).

    No clearly it doesn’t make sense on any of these fronts! :wtf:

    Essentially this is an admission by the local authority that they are way out of their depth here and haven’t a notion what to do with the site nor how to proceed with a redevelopment.

    It’s over a year now since Limerick City Council purchased the site and it obviously begs the question what exactly have they been doing for the past 12 months?

    I fear that the lack of a co-ordinated effort not to mention a comprehensive master plan will just result in a piecemeal, make it up as you go along approach that will inevitably lead to a disjointed and underwhelming development of the site.

    Of course that’s not to say that a re-evaluation of the original concept isn’t required. It’s safe to assume now that the shopping centre proposal is never going to be built. Indeed a development of such considerable retail floor space can hardly be justified given that the reality check has well and truly set in.

    All things considered my preference would be for a new pedestrian street flanked by purpose built, appropriately scaled and sensitively designed individual shop units (with linkages to the existing buildings and dual frontage where possible) snaking through from the Ellen Street/Patrick Street corner to a quality public space on Bank Place. Something along the lines of the opera lane project in Cork roughly. Perhaps an element of office space and residential accommodation could also be included. There’s ample room after all on what is a pretty extensive site.

    I’d also like to see the granary building afforded a more prominent position in the redevelopment. Integration to the centre of the site is easily achieved. At the moment too much of the original building is concealed by the 1980s office block. The fabric of this structure, its stonework and arches should be showcased not hidden. The removal of the office building would also afford the opportunity to extend the internal courtyard space along the entire length of the granary.

    I really wish Limerick City Council would get off their arses and demonstrate that they are at least formulating plans or considering some uses for the site even in the short term.

    Why not tear down that dog ugly hoarding and fencing along Michael Street. Clear those industrial buildings in the yard at the centre of the site and lay out a temporary car park. At least it would be a start. Why not also make the structurally sound buildings that have been vacant for the last 5 years available for rent again?

    Show some imagination for feck sake!

    #780687
    pigtown
    Participant

    @Tuborg wrote:

    Some quite puzzling quotes attributed to the “economic director” of the forthcoming combined Limerick local authority in the press recently.

    http://www.limerickleader.ie/news/business/key-limerick-city-site-not-suitable-for-big-retailer-1-4609522

    It’s laughable really that the site which for the most part of the last decade was trumpeted by Limerick City Council amongst others as imperative to the commercial revitalisation of the city centre can suddenly be deemed unsuitable for this purpose despite being put through an exhaustive planning process twice.

    Frankly I’m happy someone is shouting stop before the thing actually gets built. In fairness to the economic director he is a new appointment and had no input into the Opera Centre plans.

    @Tuborg wrote:

    Let’s see;

    • It’s a large city centre site in dire need of a combination of redevelopment and conservation.
    • Immediately adjacent to established commercial, shopping and leisure areas.
    • Planning permission is already secured for a large retail project so obviously this type of development is acceptable in principle
    • The site is under the control of the local authority (although it’s hard to tell if this is a positive or an impediment).

    No clearly it doesn’t make sense on any of these fronts! :wtf:

    *Can’t disagree there.
    *Fair enough Arthur’s Quay is established but it’s hardly a destination in the city.
    *The key word here I think is in ‘principle’. Sure, the proposal didn’t contravene any zonings or the retail hierarchy of the region but at the same time it was way too big for the city.
    *I don’t think it would matter who was in control of the site. That much new retail space would only serve to take from the rest of the city core.

    @Tuborg wrote:

    Essentially this is an admission by the local authority that they are way out of their depth here and haven’t a notion what to do with the site nor how to proceed with a redevelopment.

    It’s over a year now since Limerick City Council purchased the site and it obviously begs the question what exactly have they been doing for the past 12 months?

    I fear that the lack of a co-ordinated effort not to mention a comprehensive master plan will just result in a piecemeal, make it up as you go along approach that will inevitably lead to a disjointed and underwhelming development of the site.

    Of course that’s not to say that a re-evaluation of the original concept isn’t required. It’s safe to assume now that the shopping centre proposal is never going to be built. Indeed a development of such considerable retail floor space can hardly be justified given that the reality check has well and truly set in.

    While I don’t disagree that the council are out of their depth in undertaking such a huge redevelopment project, I don’t see them admitting anything. The new director has taken a look at the plans and has decided that they are not feasible.

    A master plan for the future development of the entire city has been commissioned and is due for publication and I think any decisions on the site before this is published would have been grossly negligent of the council.

    I don’t think a shopping proposal on the scale that was envisaged was ever viable. It would have drawn business’ and customers away from the existing retail core and would have had an overall negative impact on the city centre. In my opinion, had this gone ahead and filled all of the units then people would have had little reason to go anywhere in the city.

    @Tuborg wrote:

    All things considered my preference would be for a new pedestrian street flanked by purpose built, appropriately scaled and sensitively designed individual shop units (with linkages to the existing buildings and dual frontage where possible) snaking through from the Ellen Street/Patrick Street corner to a quality public space on Bank Place. Something along the lines of the opera lane project in Cork roughly. Perhaps an element of office space and residential accommodation could also be included. There’s ample room after all on what is a pretty extensive site.

    It seems like I’m disagreeing with everything you say but I’m not sure that the city needs another street, not when we already have so many dead streets in the city. Also I think developments like Opera Lane and City Central really detract from a city. All of the shopfronts look the same and there is no variety. It’s almost like a shopping centre.

    @Tuborg wrote:

    I’d also like to see the granary building afforded a more prominent position in the redevelopment. Integration to the centre of the site is easily achieved. At the moment too much of the original building is concealed by the 1980s office block. The fabric of this structure, its stonework and arches should be showcased not hidden. The removal of the office building would also afford the opportunity to extend the internal courtyard space along the entire length of the granary.

    Agreed.

    @Tuborg wrote:

    I really wish Limerick City Council would get off their arses and demonstrate that they are at least formulating plans or considering some uses for the site even in the short term.

    Why not tear down that dog ugly hoarding and fencing along Michael Street. Clear those industrial buildings in the yard at the centre of the site and lay out a temporary car park. At least it would be a start. Why not also make the structurally sound buildings that have been vacant for the last 5 years available for rent again?

    Show some imagination for feck sake!

    Well the plans are almost complete I think. It is possible that the council don’t want to touch the site in a piecemeal fashion so as to minimise costs when something does happen, this is unlikely however and they are probably content to do a lot of talking without taking action, like the situation with the city museum. With regard to renting out some buildings, I’d imagine the rat problem is pretty severe there and any business would be hard pressed to pass any heath inspections.

    What I would like to see in the site is loads of modern office space. If you consider that that any decent sized company wanting to set up in the city would probably need to build their own office building first, a large quantity of good quality office space would be a major asset. I don’t believe it should be used for retail as there are plenty of sites nearer to the core that have been identified in the most recent city development plan that are suitable for large scale developments.

    #780688
    bjg
    Participant

    Why would any service company want to set up in the city? Why not take a site on an industrial estate (sorry: business park) somewhere, with lots of parking spaces?

    The Opera Centre proposal seemed to envisage turning the city centre into a suburban shopping centre. But the suburban shopping centres are already quite good at that and have better road access. The project’s appeal to the city fathers seemed to be that retail would provide a high-margin activity that could justify the city’s continued existence, but it may be that no such activity exists. Large manufacturing, retail and service (even public service) activities don’t need the city, so what is it for?

    bjg

    #780683
    rumpelstiltskin
    Participant

    Well Cork and Galway also seem to have suburban shopping centres and yet their city centres are buzzing. The fact is that people will go where the buzz is, and there’s now a cycle of decline in Limerick city where fewer and fewer people are going because the lack of people is making it a less pleasant place to be. There’s a few things which need to be done:

    1. Get more people living in the city centre. Maybe the Opera centre could have a significant residential portion involved. If people live there, people will shop there.
    2. Clean up the city centre. I think this is really one of the main reasons for Limerick’s decline. It’s just not a nice place to be – at least in terms of its shopping areas. There are certain stretches of William St. which demonstrate what rejuvenation plans might achieve, but the pedestrianization has frankly completely failed to rescue the place. Somebody really needs to start knocking down or beautifying the 70s and 80s buildings, which are reminiscent of the worst English suburbs. Number one priority should be Brown Thomas, which should actually look like what it is – the flagship store of the entire city. Maybe BT will at least revamp the facade when the pedestrianization of O’Connell St. is being carried out.
    3. Start moving parts of UL into the city centre. In retrospect, the decision not to build UL closer to Limerick City might have been a bit of a disaster. Not only would it have brought interesting new architectural developments, but it would have transplanted thousands of young people currently living in Castletroy into the city centre.

    #780684
    bjg
    Participant

    I think you’re getting at something when you talk about “buzz”. [Personally, I’d run a mile from it, but chacun a son gout.] In what does “buzzing” consist, why do people want to do it, what conditions make it possible and do the economic benefits outweigh the costs?

    I don’t know, but allow me to speculate. If, for instance, it involves a lot of young folk sitting around drinking expensive coffee, and then going to hops [or whatever they’re called nowadays] at night, you can begin to define a target market and to cost a plan. But you might decide that those activities are already catered for in Limerick, some of them at Plassey. Maybe it should be developed as the young folks’ ghetto: older adults will not necessarily be attracted by the idea of having lots more students around the place and the proposal might accelerate their own flight.

    Your proposal to get more people living in the city centre just pushes the question out a notch. Why would anyone want to live there, when there are no parking spaces and no gardens? Perhaps they would like to live close to where they work, but are the jobs in the city? And if they’re not, how will the folk get to their jobs without parking spaces for their cars?

    It seems to me that proposals to decorate or clean or otherwise prettify the city (including the boardwalks, pedestrianisation and other planners’ ideas) will all fail unless there is an economic justification for the city’s continued existence. Warehosues, meat factories, mills and so on were what built [modern] Limerick, not coffee shops and boardwalks. I don’t want to put words in your mouth, so please correct me if I’m wrong, but the “buzzing city” concept seems to be one based on the leisure and entertainment industries. That’s fine, provided that the plan is clear and the costs and benefits are assessed. But to me, with no knowledge of architecture or city planning, much of the discussion of Limerick regeneration seems to be based on unrealistic ideas of what can (or should) be achieved, on a particular and fairly narrow set of activities and actors (young folk drinking coffee) and on a neglect of the economic underpinnings.

    bjg

    #780686
    rumpelstiltskin
    Participant

    But this is not the 19th century. As much as people may want it, there will be no manufacturing in the city centre – that is not how modern city centres work. So what is the city centre for, then, but for leisure and living? I don’t see what the problem with that is – it’s the model of every other city in Ireland, and most cities in Europe. I don’t see a lot of manufacturing in central Paris or central Dublin.

    It’s not just about young people drinking coffee, but that’s a part of it. The city centre should be a place where people from different areas of the city, and surrounding towns, come to socialize. It should be a place where they can get an atmosphere and facilities they can’t get anywhere else. Again, what’s the problem with that? If you can think of a better, more sustainable use for a historic core of a city, now’s the time.

    And I think the appearance of the city centre is crucial, not just because it’ll make more local people want to go there, but because it’ll draw tourism. Another big use for modern city centres is tourism, which draws in money for the further improvement of the lives of its citizens. Limerick has more in the way of historic landmarks and tourist sites than Cork or Galway, yet it gets overlooked because it is thought to be, with some justification, grotty and dank.

    #780689
    bjg
    Participant

    The point about nineteenth century manufacturing is that it, and the transport technology of the time, provided an economic reason for a lot of people to live in a high-density city centre. First, you seem to be starting with the presumption that there must be city centres; I don’t think that should be taken for granted.

    Second, you seem to accept that there must be economic activities to support the cities, but I am mildly surprised to find that the only such activities you can think of are all leisure-related (I include tourism in that).

    Third, there are several problems in the way of a leisure-based city economy: (a) lots of leisure activities are best carried out elsewhere, (b) leisure activities may drive out residents (I don’t want students vomiting on my doorstep in the early hours of the morning thank you very much), (c) leisure gets cut in economic slumps, (d) I don’t think that tarted-up streets constitute a distinctive Limerick brand (but Limerick Ham made in Limerick might) …. In fact, being better than Cork or Galway is irrelevant: what this region lacks is something that attracts people from abroad to Ireland, not something that attracts those already in Ireland away from Cork or Galway.

    bjg

    PS here’s an interesting point http://marginalrevolution.com/marginalrevolution/2013/01/facts-about-cities.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+marginalrevolution%2Ffeed+%28Marginal+Revolution%29.

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