This morning, Joe sent along a comment mentioning a story about Foxconn from the national technology website The Verge. (Many thanks for the pointer.) Josh Dzieza reports One month ago, Foxconn said its innovation centers weren’t empty — they still are (“Foxconn still hasn’t done anything with the buildings it bought in Wisconsin”): Last summer,…
State Capitalism
Bad Ideas, CDA, Economics, Economy, Employment, Government Spending, Local Government, State Capitalism, State Government, WEDC
The Empty ‘Jobs Created’ Pledge
by JOHN ADAMS •
In Wisconsin, these last years, one has often heard – so often that it might as well be a mantra – that corporate subsidies are necessary for job creation, to reward job creators. This repeated justification ignores evident realities: (1) in times of low unemployment job-creation subsidies are less necessary, (2) wealthy corporate recipients are…
Babbittry, Bad Ideas, CDA, Crony Capitalism, Economy, Foxconn, Government Spending, Scott Walker, State Capitalism, State Government, That Which Paved the Way, WEDC
America’s Best Know Better
by JOHN ADAMS •
A story from the Wall Street Journal‘s Valerie Bauerlein explains the damage that the Foxconn scheme has done to ordinary people in Foxconn Tore Up a Small Town to Build a Big Factory—Then Retreated (“The iPhone maker got fat incentives to build a $10 billion LCD plant that largely hasn’t materialized on land where Mount…
Agriculture, Bad Ideas, Business, CDA, Economics, Economy, Local Government, Poverty, State Capitalism, State Government, Taxes/Taxation, That Which Paved the Way, Trade, Trump, WEDC, Wisconsin
‘Stung by Trump’s Trade Wars, Wisconsin’s Milk Farmers Face Extinction’
by JOHN ADAMS •
After years of the ignorant scheming of tax incremental financing, the Wisconsin Economic Development Corporation, capital catalyst grants, the Trump tax bill, and now Trump’s trade war, Alan Rappeport reports Stung by Trump’s Trade Wars, Wisconsin’s Milk Farmers Face Extinction (“The flagship industry in a pivotal swing state faces an economic crisis”): KENDALL, Wis. —…
Babbittry, Bad Ideas, CDA, Crony Capitalism, Economy, Foxconn, Government Spending, Scott Walker, State Capitalism, State Government, That Which Paved the Way, Tony Evers, WEDC, Wisconsin
Foxconn Confirms Gov. Evers’s Claim of a Renegotiation Discussion
by JOHN ADAMS •
Yesterday, Gov. Evers was proved right on a key contention about Foxconn. Earlier this week, Evers released a letter to Foxconn executive Dr. Louis Woo in which Evers mentioned that Foxconn had sought to “suggest several changes to the existing agreement.” Gov. Evers also stated that Woo had also met with Vos and Fitzgerald and…
Bad Ideas, Business, CDA, City, Crony Capitalism, Development, Economics, Economy, Environment, Foxconn, Government Spending, Local Government, Speaker Vos, State Capitalism, State Government, That Which Paved the Way, WEDC, Wisconsin
Foxconn: The Closer One Gets, The Worse It Is
by JOHN ADAMS •
There is, about Foxconn in Wisconsin, a fair amount of ignorant insistence that there will be supply chain opportunities, etc. Public employees talking about the Foxconn project’s supposed benefit is the practical equivalent letting them recite limericks or play sheepshead: it’s not productive. For those near Foxconn, however, that project is more than wasteful talk:…
Bad Ideas, CDA, Crony Capitalism, Development, Economics, Economy, Foxconn, Gov. Walker, Government Spending, Local Government, State Capitalism, State Government, Trump, WEDC
Foxconn: Still Empty, and the Chairman of the Board Needs a Nap
by JOHN ADAMS •
Trump declared that Foxconn in Wisconsin would be the eighth wonder of the world, but one of the world’s true wonders would not depend on empty buildings and it wouldn’t have a leader who needs a nap, but here we are. Following his earlier examination on Foxconn’s habit of using empty buildings to dupe the…
Bad Ideas, CDA, Crony Capitalism, Foxconn, Government Spending, State Capitalism, State Government, WEDC, Wisconsin
Foxconn: Heckuva Supply Chain They Have There…
by JOHN ADAMS •
Not long ago, the executive director of the Whitewater Community Development Authority used meeting time to gush over the supply-chain possibilities Foxconn might present for Whitewater. The very idea is laughable; that his remarks were not met with peals of laughter shows how ignorant or confused the members of that public body truly are. See…
Bad Ideas, CDA, Crony Capitalism, Foxconn, Government Spending, State Capitalism, State Government, WEDC, Wisconsin
Foxconn: On Shaky Ground, Literally
by JOHN ADAMS •
Not long ago, Whitewater’s Community Development Authority discussed – laughably – that Foxconn’s screen production would offer a supply-chain opportunity for Whitewater. As it turns out, beyond all the other problems of Foxconn, the site probably cannot – literally – even support the production of high-quality glass components. Bruce Murphy at Urban Milwaukee explains: Except…
Bad Ideas, CDA, Crony Capitalism, Foxconn, Government Spending, State Capitalism, State Government, WEDC, Wisconsin
Foxconn: Behind Those Headlines
by JOHN ADAMS •
One reads that today Foxconn is promising a less advanced facility in Wisconsin by 2020, and today’s promise has captured a few headlines. The truth – even if Foxconn follows through on this latest promise – is an embarrassing retreat, as Bloomberg’s Tim Culpan observes: Sounds like it’s more than a year late, and well…
Agriculture, Bad Ideas, CDA, Crony Capitalism, Economics, Economy, Free Market, Gov. Walker, Local Government, State Capitalism, Trade, Trump, WEDC
How Walker and Trump Destroyed Dairies in America’s Dairyland
by JOHN ADAMS •
One has heard so much these last eight years about how Wisconsin has been ‘open for business,’ and for Walker and the WEDC that has meant countless subsidies and tax breaks for conservatives’ preferred businesses. Walker was never a free-market man; his whole approach rested on state capitalism (government funding some producers) and crony capitalism…
Bad Ideas, Crony Capitalism, Foxconn, Government Spending, State Capitalism, State Government, That Which Paved the Way, WEDC
Foxconn: The Roads to Nowhere
by JOHN ADAMS •
Pay-as-you-go is another lie from proponents of Foxconn. Much has been paid, while the going is to nowhere. Ricardo Torres reports Taxpayers have spent more than $225 million on roads around Foxconn: Between work done on Interstate 94 in Racine County and the local roads and state highways in the Foxconn area, roughly $225 million…
Bad Ideas, Crony Capitalism, Foxconn, Government Spending, State Capitalism, State Government, WEDC
Foxconn Roundup
by JOHN ADAMS •
From the beginning, it should have been clear to any reasonable person that the Foxconn project was ill-conceived, and destructive of nearby homeowners’ rights. Yet for all the bad news about that fraudulent project, there is still more bad news to relate. John Schmid reports Wisconsin might not get a Foxconn plant of any size,…
CDA, City, Crony Capitalism, Free Market, State Capitalism, WEDC
Fruitless Embrace
by JOHN ADAMS •
Free-market economist Veronique de Rugy asks Why Are Republicans Embracing Economic State Planning?: China’s post-Mao economic boom has occurred only to the extent that the country became capitalist. With “Made in China 2025,” Beijing’s 2015 anticapitalist plan for an industrial policy under which the state would pick “winners,” China has taken a step back from capitalism. (It recently dropped the “Made…