An asylum for the preservation of illusion. : Chicago : books : cities : econ

Who Are the Rats Now?

The Nation has an analysis of the strike in New York which is very harsh (somewhat surprisingly given their neo-liberal ideological bent) towards the MTA board and Governor Pataki. While mercifully holding their ideological punches against the Union's attempt to save the pension, they paint a picture of a corrupt, politically motivated board. A board which acts as a sock puppet for the Governor, wasting billions of dollars to reward cronies with lucrative contracts, running up huge deficits to pay for the largess, manipulating financial records to deceive the public, and flirting with the mob.

[READ MORE] | [Jan 04, 2006] | [econ] | # | G

Europe vs. America

Western Europe has long defied economic growth models by remaining stubbornly poorer than the United States. In his 2002 paper Two Centuries of Economic Growth: Europe Chasing the American Frontier, Robert J. Gordon, an economist at Northwestern University, attempts to explain the paradox. His conclusion questions our assumptions about wealth, the wisdom of American post-World War II urban development policies, the GDP as an accurate measure of wealth, and the future viability of the American way of life.

[READ MORE] | [Jun 26, 2004] | [econ] | # | G

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