In the June 19 Forbes, Frederic Sautet of GMU's Mercatus Center writes "Don't Tempt Me ... States and cities lure businesses with promises of tax abatements and other goodies. They'd do better with broad-based tax cuts." This is common sense. Yet, it is like being serious about a simplified tax code: in the event, what would politicians do all day?
Mine is a serious comment. The Genie is out of the bottle. They have tasted the heroin.
Bad policy choices bite but in the long run which few politicians care about. In the short term, they spread the goodies and reap the personal rewards. In that context, essays like Sautet's are a step forward.
Teach economics to journalists and teach op-ed writing to economists.
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A blog exploring the intersection of economic thinking and urban planning/real estate development and related big-think themes.
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