Over time, no matter how small the city, national conditions and trends make their way to the edge of town. Some towns will address these conditions, but others will be resistant to substantive change. For those towns in the latter category, business as usual and rhetorical feints suffice in response to powerful forces to which…
Economy
America, Authoritarianism, Corruption, Economy, Public Health, Trump, Unfit
Trump’s American Carnage
by JOHN ADAMS • • Comments
Coronavirus, Economics, Economy, Employment, Federal Reserve, Public Health
Federal Reserve Chair Powell’s Interview on Economic Recovery
by JOHN ADAMS • • Comments
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…
Coronavirus, Economy, Employment, Public Health
Again – Consumer Sentiment
by JOHN ADAMS • • 1 Comment
A story from the Wall Street Journal reminds that ‘re-opening’ is futile without broad-based consumer demand. Austen Hufford and Bob Tita report Factories Close for Good as Coronavirus Cuts Demand (‘Some manufacturers that furloughed employees during lockdowns say plants won’t reopen’): Factory furloughs across the U.S. are becoming permanent closings, a sign of the heavy damage…
America, Coronavirus, Economy, Public Health, Trump
Mourning in America
by JOHN ADAMS • • Comments
Business, CDA, Coronavirus, Economy, Free Markets, Government Spending, Local Government, Public Health, Retail/Merchants
Consumer Sentiment
by JOHN ADAMS • • 2 Comments
Much of the ‘reopening’ advocacy rests on the idea that after allowing a business to reopen, that business will see an adequate return of customers. While some businesses may see adequate customer demand, it’s almost certain that others will not. It has never been true that simply opening a business would assure its survival. If…
Coronavirus, Economy, Public Health, Trump, Unfit
First
by JOHN ADAMS • • Comments
Advertising, Babbittry, Bad Ideas, Boosterism, Culture, Economics, Economy, History, Poverty
Boosterism, ’30s Style
by JOHN ADAMS • • 1 Comment
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…
Business, CDA, Coronavirus, Economy, Local Government, Poverty, Public Health, Wisconsin
The Reopening Debate Will Turn on Consumer Demand
by JOHN ADAMS • • Comments
The push to reopen Wisconsin will only effectively benefit retail businesses if consumer demand returns to pre-pandemic levels. Consumer demand will only return to pre-pandemic levels if consumers feel safe. Some retail demand will return as soon as shops and restaurants open; the marketplace question is whether consumer demand returns to something like pre-pandemic levels.…
Babbittry, Boosterism, Coronavirus, Corporate Welfare, Disinformation, Economy, Mendacity, Newspapers, Opioids, Public Health
A Newspaper’s Boosterism During a Pandemic
by JOHN ADAMS • • 8 Comments
A worthy person – a man or woman committed to reason, honesty, and seriousness of purpose – would have little respect for the Janesville Gazette. This critical view is not a new one, truly: the paper’s work has been inferior during the Great Recession, during an opioid crisis, during cheerleading for countless state and local…
Coronavirus, Economics, Economy, Free Markets, Public Health
Public Policy Responses to the Coronavirus: ‘You have to address the health side’
by JOHN ADAMS • • 1 Comment
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…
Babbittry, Boosterism, CDA, City, Development, Economics, Economy, Free Markets, Local Government, Poverty, School District, WEDC, Wisconsin
Local Public Policy as if Charitable Assistance
by JOHN ADAMS • • 4 Comments
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…
Bad Ideas, Boosterism, CDA, Corporate Welfare, Development, Economy, Planning, Poverty, WEDC
Declines, Recessions, and Rhetoric
by JOHN ADAMS • • Comments
While yesterday was a bad day for the financial markets, it’s the underlying – and troubling – fundamental condition of the economy that matters far more. Places like Whitewater, that adopted business special interests’ “if-you-build-it-they-will-come” approach despite increasing poverty and stagnation in household and individual incomes, are especially vulnerable to a downturn. Market Declines. Steven…
Bad Ideas, CDA, City, Conflicts of Interest, Development, Economics, Economy, Free Markets, Local Government, Special Interests, WEDC
Miscellany on Development Policy in Whitewater
by JOHN ADAMS • • 2 Comments
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…