Why Do Politicians Waste So Much Money on Corporate Incentives?

By”  Diane Benjamin

I found an article talking to the author of a book called:   Incentives to Pander: How Politicians Use Corporate Welfare for Political Gain

Although the story talks a lot about mega deals like a new Amazon headquarters, the same principles apply locally.

Quotes:

There are consultants, there are companies, there are elected officials, there are NGOs. There are a lot of different actors at fault here. But what we focus on is politicians pandering to voters. These politicians are offering these incentives not in smoke-filled rooms, but in ribbon-cutting ceremonies. They are trying to show voters that they are doing something to attract investment, even if they believe that incentives actually might not be effective.

Politicians often claim that these incentives pay for themselves. They’re often very careful in what details they provide. Elected officials actually provide very little cost-benefit analysis. So you see less scrutiny of these deals.

Read the entire article here:  https://www.citylab.com/equity/2018/05/why-do-politicians-waste-so-much-money-on-corporate-incentives/561149/

The book might be worth reading – then gift it to a local Council member!

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Comments

  1. This would make a GREAT theme for a Mayors conference. It would be our luck that Tari and Koos sit that one out though.

    Liked by 1 person

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