Sports stadiums: an inevitable drain on city budgets?

Behind the rhetoric about public employees bankrupting cities, there are a few silent drains on city budgets (and now London faces the likelihood that its hopes for a post-Olympics windfall, like nearly every other city in history, won’t materialize.) Sports stadiums are perhaps the biggest single subsidy packages doled out, …

Economic development, or blackmail?

The New York Times is running a terrific series on tax breaks and other subsidies given by governments, especially local and state governments, to corporations that promise jobs and revenue, despite the patent failure of such subsidies to improve the economic situation of communities. This first part of the series …