Middle Class Political Economist: A Great Site!
I was cruising the Internet when I came across this site. I immediately liked it and I recommend it to you. He prefaces his posts with this –
I grew up in a middle-class family, the first to go to college full-time and the first to earn a Ph.D. The economic policies of the last 35 years have reduced the middle class’s security, and this blog is a small contribution to reversing that.
I, James Pilant, grew up in a middle class family, was the first to go to college, and the first to earn a J.D. So, I feel a certain affinity. I wish my fellow economic blogger luck and continued success. As for you, my kind readers, please go to the site and become a follower. You won’t be sorry.
Middle Class Political Economist: Subsidy Insanity in Western Missouri
I have written before about the gross waste of taxpayer monies on retail in the St. Louis region. According to the East-West Gateway Council of Governments (p. 18), governments in the bi-state metropolitan area pumped about $2 billion worth of subsidies into retail projects from 1990 to 2007, but only saw a net increase of 5400 jobs, meaning that each low-wage, low-benefit retail job cost the cities of the region $370,000 apiece. The price is only this low on the generous assumption that the subsidies were solely responsible for this job creation. However, given the growth of incomes in the metro area during that time period, it is likely that most if not all the jobs would have been created without the incentives provided.
From around the web.
From the web site, The Net Economy.
By David Rohde – For decades, praising the middle class has been a staple of American politics. Candidates vow to defend the middle class and accuse their opponents of betraying it. But what, exactly, is the “middle class”?
Despite the incessant political lip service paid to the middle class, there is no official American government definition of the group. The middle class has been intensively studied but no political consensus exists over how it was created or how to strengthen it.
The closest the task force came to defining the middle class was a January 2010 report “Middle Class in America (pdf).” The study never gives an exact income level that is “middle class.” Instead, echoing academic studies on the subject, the document concludes that “middle class families are defined more by their aspirations than their income.”