By William M. Bowen
Through now the tale is prevalent. A once-booming midwestern urban whose development was once fueled by way of production is now suffering from a scarcity of jobs, declining inhabitants, deserted houses, creaky infrastructure, and determined funds. population usually flee to parts supplying monetary chance and higher faculties. but others remain, looking and infrequently discovering entrepreneurial possibilities which are aiding fix misplaced prosperity.
This cycle of preeminence to say no to prosperity is the topic of this insightful e-book. The members talk about a number of the universal the explanation why those towns suffered decline and the numerous strategies proposed and efforts already undertaken that search to opposite the decline and spur rejuvenation.
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Extra resources for The Road Through the Rust Belt: From Preeminence to Decline to Prosperity
6). Tax expenditures, particularly those targeted at large firms, have failed “to produce significant net benefits for their host communities, calling into question the high-stakes bidding war over jobs and investment” (Fox and Murray 2004, p. 78). Weiner (2009) shows that “for each dollar of credit granted, states usually collect less than one dollar in new tax revenue. ’ It is therefore important to understand the benefits states are gaining for the revenues they are giving up” (p. 4). The discussion of benefits foregone is often one that is not had by states and local governments.
The focus is on how older industrial regional systems really work and what can and should be (and what cannot and should not be) done through both public institutions and private markets in efforts to improve their performance. How might urban policy be used to renew and update capitalist markets so as to put old industrial regions back on the road to prosperity? What mix of market versus nonmarket allocation mechanisms is optimal? How can and do free people in such regions, living in democratic capitalist systems, solve problems to meet the needs and wants of others, so as to turn their perceptions of scarcity and loss into ones of abundance?
Jun Ishii, and Kei-Mu Yi. 1999. ” Staff Reports No. 72. New York: Federal Reserve Bank of New York. pdf (accessed April 8, 2013). Humphries, Marc. 2012. ” Report to Congress. R41347. Washington, DC: Congressional Research Service. Irwin, Douglas A. 1996. “The United States in a New Global Economy? ” American Economic Review 86(2): 41–46. Jackson, Richard, and Neil Howe. 2008. The Graying of the Great Powers: Demography and Geopolitics in the 21st Century. Washington, DC: Center for Strategic and International Studies.
The Road Through the Rust Belt: From Preeminence to Decline to Prosperity by William M. Bowen