Over at the Journal Sentinel, business reporter Rick Romell reports that More signs emerge that the pace of Foxconn’s Wisconsin project is falling short of expectations. Honest to goodness – there have been years of reports, and years of analyses, that made clear to any reasonable person that this project was destined for failure. Anyone and…
Economy
CDA, Economics, Economy, Foxconn, Government Spending, WEDC, Wisconsin
Foxconn: State of Wisconsin Demands Accountability, Foreign Corporation Stalls
by JOHN ADAMS • • Comments
There’s a significant new development in the Foxconn project: the state has told the Taiwanese corporation it’s presently no longer eligible for tax credits. Over at The Verge, a national technology publication, there’s an excellent, detailed story about Foxconn’s serial excuses to receive the public money or credits it wants regardless of performance. In an…
CDA, Economics, Economy, Foxconn, Government Spending, WEDC, Wisconsin
Foxconn: Worse Than Nothing
by JOHN ADAMS • • Comments
Below are the abstract and full study from George Mason University on The Economics of a Targeted Economic Development Subsidy (examining the Foxconn deal in Wisconsin). There’s much to consider in this work, for the Foxconn project, and by reasonable extension to other government-targeted business subsidies. Abstract: In an effort to spur economic growth and…
America, Babbittry, Bad Ideas, Boosterism, City, Corporate Welfare, Economics, Economy, Local Government, Mendacity, Newspapers, State Capitalism
What the New Dealers Got Right – What Whitewater’s Local Notables Got Wrong
by JOHN ADAMS • • 2 Comments
There’s sound reason to doubt that the New Dealers’ economic solutions to the Great Depression were effective, but there’s no doubt that Roosevelt’s Brain Trust was hard-working, smart, and candid in its description of America’s economic problems. For a critical assessment of the New Deal, written accessibly, see The Forgotten Man: A New History of…
Alt-Right, America, Authoritarianism, Babbittry, Bigotry, Boosterism, Economy, Herrenvolk, Impeachment, Mendacity, Television, That Which Paved the Way, Trump, Trump-Russia, Unfit
Fox News Won’t Be Enough
by JOHN ADAMS • • Comments
It’s a sound position to focus criticism of Trumpism on Trump, His Inner Circle, Principal Surrogates, and Media Defenders. This sometimes includes Trumpism Down to the Local Level. (Those local officials across America who have this past decade spread sugary lies of boosterism during the Great Recession, during its aftermath, and during the opioid crisis are contemptibly…
America, City, Economy, Health, Local Government, Opioids
Opioid Crisis : Great Recession :: Dust Bowl : Great Depression
by JOHN ADAMS • • 2 Comments
It’s a loose analogy (yet a useful one) to say that the opioid crisis is to the Great Recession as the Dust Bowl was to the Great Depression. These deep economic downturns did not cause, respectively, either the Dust Bowl or the opioid crisis, but each downturn did exacerbate the severity of its coincident calamity.…
Economy, Health
Society of Actuaries: Economic Cost of the Opioid Crisis
by JOHN ADAMS • • Comments
In Whitewater, in the Midwest, and opioid addiction has been personally devastating and economically debilitating. In a recent study, the Society of Actuaries estimates the Economic Impact of Non-Medical Opioid Use in the United States: The estimated costs consist of the following: • Nearly one-third ($205 billion) of the estimated economic burden of the opioid…
CDA, Economy, Trump, WEDC, Wisconsin
Trumpism Brings Economic Decline
by JOHN ADAMS • • Comments
It was supposed to be jobs, jobs, jobs for the WEDC and miniature versions of it like the Whitewater Community Development Authority. Gosh darn it, the former chairman of the Whitewater CDA even thanked (in person!) multimillionaire gerrymandered congressman F. James Sensenbrenner for part of the Trump tax bill. And yet, and yet, one reads…
Dairy, Economics, Economy, Free Markets, Language, Newspapers
Does Anyone at the Janesville Gazette Have a Dictionary?
by JOHN ADAMS • • Comments
Recently, the Janesville Gazette‘s editorialist tried to defend remarks from Trump’s secretary of agriculture, Sonny Perdue, about the demise of family farmers. See Our Views: Ag secretary’s reality check wasn’t callous. In that defense, one finds that the Gazette‘s editorialist neither understands the meaning of simple English words nor basic economics. The secretary of agriculture said…
CDA, City, Development, Economy, Local Government, Poverty, Taxes/Taxation
Trump Tax Bill is the Predictable Failure Sensible People Warned It Would Be
by JOHN ADAMS • • Comments
In Whitewater, there’s a business lobby that amounts to a right-wing landlord or two, the dogsbodies who follow three paces behind, and the municipal officials who have been, variously, beguiled or browbeaten into asserting that government-directed capital spending means general prosperity. It doesn’t; it’s the great myth of municipal policy. A building here, a building…
Bad Ideas, CDA, Corporate Welfare, Development, Economy, Foxconn, Government Spending, State Capitalism, State Government, That Which Paved the Way, Trump, Water, WEDC, WGTB, WHEN GREEN TURNS BROWN, Wisconsin
It Shouldn’t
by JOHN ADAMS • • Comments
Anna Clark (author of The Poisoned City: Flint’s Water and the American Urban Tragedy) asks Why should Wisconsin drain Lake Michigan for Foxconn?: The Great Lakes — five inland seas holding one-fifth of all the fresh water on Earth — are vast, but they are not limitless. So it is alarming that Wisconsin intends to send…
CDA, City, Development, Economy, Government Spending, Local Government, Poverty
Common Council, 8.20.19: Fiscal & Economic
by JOHN ADAMS • • 4 Comments
Yesterday, I posted about part of a Whitewater Common Council meeting that addressed a traffic signal at a dangerous intersection. See Common Council, 8.20.19: Misperception. There was another topic at that meeting: the annual audit of the city’s fiscal condition (link below). In another place and time, the fiscal condition of government might be decisive…
Economics, Economy, Poll, Taxes/Taxation, Trade, Trump
Americans’ Support for Free Trade Reaches New High
by JOHN ADAMS • • Comments
A strong majority supports free trade and rejects Trump’s anti-market trade wars and tariffs. Mark Murray reports that Amid President Donald Trump’s trade war with China, nearly two-thirds of Americans say they support free trade with foreign countries, according to the latest national poll from NBC News and the Wall Street Journal. That represents a…
Babbittry, Boosterism, Economy, Health, Wisconsin
The Rural Condition: Life expectancy for Wisconsin babies falls
by JOHN ADAMS • • 1 Comment
Boosters’ ceaseless distortions to ‘accentuate the positive’ – so common across the state and in Whitewater before, during, and after the Great Recession – meet their tragic refutation in life expectancy declines for Wisconsin. The Wisconsin Public Policy Forum reports on Troubling trends in Wisconsin: Life expectancy down; alcohol, drug and suicide deaths up: The…