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Economics

Daily Bread for 9.28.22: Local and National Views of Child Poverty

Good morning. Wednesday in Whitewater will be mostly sunny with a high of 58. Sunrise is 6:49 AM and sunset 6:40 PM for 11h 50m 44s of daytime. The moon is a waxing crescent with 7.6% of its visible disk illuminated.  Whitewater’s Parks & Recreation Board meets at 5:30 PM.    On this day in 1781,…

Daily Bread for 8.2.22: The Russian Economy’s Not “Bouncing Back” (and What That Means for Local Policymaking)

Good morning. Tuesday in Whitewater will be mostly cloudy with a high of 87. Sunrise is 5:48 AM and sunset 8:13 PM for 14h 25m 26s of daytime.  The moon is a waxing crescent with 20.5% of its visible disk illuminated.   The Whitewater Common Council meets at 6:30 PM.   On this day in 1932, the positron (antiparticle…

Daily Bread for 7.19.22: Individual and Household Well-Being

Good morning. Tuesday in Whitewater will be mostly sunny with a high of 89. Sunrise is 5:34 AM and sunset 8:28 PM for 14h 53m 39s of daytime.  The moon is a waning gibbous with 61.5% of its visible disk illuminated. Whitewater’s Common Council meets at 6:30 PM.  On this day in 1903, Maurice Garin wins…

Competition: Good for Individuals and Society

Pres. Biden plans measures to increase market competition. David Leonhardt reports Biden’s New Push (‘The U.S. economy suffers from a lack of competition. President Biden wants to change that’): The U.S. economy has been less dynamic in the 21st century, by many measures, than it was in the late 20th century. Fewer new businesses are starting.…

Foxconn: New, More Realistic Deal Means 90% Reduction in Goals

After years of flamboyant lies about what Foxconn would be able to achieve in Wisconsin, there’s a new deal with that foreign corporation. That new arrangement reflects a reduction of 90% or more in what Wisconsin expects and what the state will offer. Local governments have already wasted millions on absurdly grandiose, false promises Not…

Local Politics Hasn’t Been Merely ‘Local’ for Years

Over at the Wisconsin Examiner, Henry Redman writes (with concern) that All politics is national (‘Candidates for local office are ignoring community issues, instead highlighting national culture wars’). First, Redman’s case, then a few remarks. Woodman [Kyle Woodman, a Republican running for Eau Claire’s city council] is part of a mostly conservative group of candidates…

Markets and Markets

One reads that Whitewater now has an option, for most of the city, of grocery delivery from nearby cities. As it is, Whitewater has a Walmart, but no stand-alone, full-service grocery. Private delivery service is a benefit to the community. It’s better to have more grocery options than fewer. These are private enterprises providing private delivery…

Federal Reserve Chair Powell’s Interview on Economic Recovery

Last night, 60 Minutes broadcast an interview with Federal Reserve Chairman Jerome Powell in which Powell discussed current economic conditions and prospects for recovery. (Powell sat for the interview on Wednesday, 5.13.20 with Scott Pelley of CBS News.)  The interview is available online, as is a transcript. Below are excerpts from the transcript (although Powell’s…

Boosterism, ’30s Style

Although the Roosevelt Administration was (whatever its other mistakes) candid about the economic conditions it faced, there was in the ’30s, as there has been over the 2010s in Wisconsin, a delusional impulse to happy talk – regardless of economic conditions – among some politicians and some business groups. Margaret Bourke-White‘s Kentucky Flood depicts the…

Public Policy Responses to the Coronavirus: ‘You have to address the health side’

Economist Austan Goolsbee offers three scenes, in his words, for addressing the coronavirus pandemic. All three, in the order he presents them, are sound. Most economic schools of thought – and all sound ones across the continuum – would consider something like his suggestions in response to a pandemic. One obvious note – or at…

Local Public Policy as if Charitable Assistance

Whitewater’s policymakers, and those of other small, rural cities, should – in these times of economic stagnation, a lingering opioid crisis, failed business welfare, and an approaching recession – view their principal obligation as if it were charitable outreach. (It’s not charity, of course, but that’s how policymakers should view it: as both palliative and…

Miscellany on Development Policy in Whitewater

There’s a significant difference between local, political calls for urgency and genuine need. Recent discussions about development policy in Whitewater only bolster this view. A few remarks (as I’ve been asked more than once what I think of the last two months’ events) — Independence. The best decision one could make when writing about policy…

A Reminder About Opportunity Zones: Bad Policy Flacked Locally

Those following what passes for economic policy in Whitewater know that this website has been rightly critical of the economic opportunity zones that were part of Trump’s tax bill. See About that Trump Tax Bill, More About that Trump Tax Bill, and The Trump Tax Bill: That’s Not Reform. Jenny Schuetz, commenting on part of Trump’s…