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Economy

Reading and Reviewing

There are two books I’m eager to review here at FW: Katherine Cramer’s Politics of Resentment: Rural Consciousness in Wisconsin and the Rise of Scott Walker (2016) and Amy Goldstein’s Janesville: An American Story (4.18.17).  Like many others, I’ve been awaiting Goldstein’s book for some time, knowing that significant works take time. For both books,…

Preliminaries to a Discussion on Class

One finds a significant amount of information, in both lay publications and (of course) the careful studies on which they rely that working class Americans are faring poorly. There are two broad aspects to this: (1) how working class Americans are faring, and (2) what this says about economic and fiscal policy at the federal,…

On the Whitewater League of Women Voters Questionnaire (Spring 2017)

At its website, the Whitewater Area League of Women Voters has posted a questionnaire for the upcoming local election. For all the good work that the League does (and the national organization does admirable work in many communities), the questionnaire reveals an unsupported, narrow view of Whitewater’s local economy. Consider the 7th question in the survey…

Cato’s Policy Handbook, Chapter 13: Immigration

Cato’s Policy Handbook for Policymakers, 8th Edition, is now available. Chapter 13 offers excellent immigration suggestions to move toward a freer labor market. It’s a reasoned approach in the place of dodgy data and nativist biases. What private individuals believe about these matters is their own concern; policymakers and officials should meet a higher standard,…

Gentrification Requires the Right Social Conditions

I’ve written that Whitewater faces a choice between decisive action now (to lessen government’s role) or years of stagnation and relative decline before eventual gentrification (at which point longtime residents will have almost no say in redevelopment). See, How Big Averts Bad. As I doubt Whitewater’s local political class has the will for near-term changes, the best…

Donald Trump and the Carrier Myth

During the 2016 election, the Carrier factory’s decision to move jobs from Indiana to Mexico was a story that stuck. Donald Trump won a political victory when he convinced the CEO of Carrier’s parent company, United Technologies, to keep 800 jobs in Indiana. Trump’s efforts run counter to a broader global trend, however. Most factory…

What a Card! Jean Card’s Comedic Claim That Trump Will Rein in Crony Capitalism

Jean Card is a weekly blogger at U.S. News & World Report (yes, it’s still in publication), former speechwriter for the secretaries of Labor (2001-03) and Treasury (2004-06) in the Bush Administration, and owner of Jean Card Ink, where she is “a writer and communications consultant with a proven track record of translating public policy jargon and government-speak…

Who Runs the Economy?

Consider this Twitter exchange between liberty-oriented Republican Justin Amash and a Trump supporter, over the suitability of Trump’s cabinet appointments: The Trump supporter thinks that the credentials of a cabinet nominee justify the appointment; Rep. Amash rightly sees that credentials do not define the scope of legitimate state action.

Trump’s Carrier Deal (Update): Fewer Longterm Jobs

Sometimes, a state-cajoled, anti-market confidence game unravels quickly, revealing the fraud that it is. Trump’s Carrier deal is one of those occasions. Three days ago, the news was that Trump’s Carrier deal was worth hundreds fewer jobs than he’d proudly boasted. (See, Trump’s Carrier Deal: Fewer Saved Jobs With Each Passing Day: ““We found out today…

Trump’s Carrier Deal: Fewer Saved Jobs With Each Passing Day

Desperate but hopeful people wanted to keep their jobs with Carrier in Indiana.  As it turns out, the promises of over a thousand jobs retained (albeit at a cost to other taxpayers) were exaggerated, whether by carelessness or manipulation: INDIANAPOLIS (WTHR) – The Carrier deal, brokered by President-elect Donald Trump, may not have saved as…

Ineffectual, Wasteful Infrastructure Ambitions

Randal O’Toole takes a look at a key part of the incoming administration’s economic policy, and sees the Trouble with Trump’s Infrastructure Ambitions.  There are, simply expressed, four problems: Not all spending of this kind is equally valuable: “Many advocates of infrastructure spending assume that all infrastructure contributes equally to economic vitality, but this is far…

The Local Economic Context of It All

Over a generation, Whitewater’s big-ticket public spending (where big ticket means a million or more per project in a city of about fifteen-thousand) has come with two, often-contradictory justifications: (1) that residents needed to spend so much because Whitewater was the very center of things, or (2) that residents needed to spend so much to assure that…

Small Towns in America Can Thrive

I posted recently about James Fallows’s Eleven Signs That a City Will Succeed. (See, from FW, James Fallows on ‘Eleven Signs a City Will Succeed’ (Part 1) and an assessment of those signs for Whitewater, James Fallows on ‘Eleven Signs a City Will Succeed’ (Part 2).) In the video below, James & Deborah Fallows talk…