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Finance

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  • Wandering Eye: Proof that trickle-down economics are harmful, UVA fraternities fight back, and more

    Wandering Eye: Proof that trickle-down economics are harmful, UVA fraternities fight back, and more
    The Organization for Economic Cooperation and Development (OECD) in Paris has taken a deep, data-driven look at the effects since the 1980s of trickle-down economics, the signature economic-policy achievement of the era of Ronald Reagan and Margaret Thatcher, and concluded that it accomplished two things: increased income inequality and depressed economic growth. Turns out, "countries where income inequality is decreasing grow faster than those with rising inequality," the OECD concludes, and "in Italy, the United Kingdom and the United States, the cumulative growth rate would have been six to nine percentage points higher had income disparities not widened" in the two decades leading up to the Great Recession. The research also looked for but found "no evidence that redistributive policies, such as taxes and social benefits, harm economic growth, provided these policies are well designed, targeted and implemented." Smart news, coming just in time to inform debate in the new GOP-led U.S. Congress. (Van Smith)
  • As campaign-finance rules change, Baltimore developer Edward St. John floods Maryland politics with cash

    As campaign-finance rules change, Baltimore developer Edward St. John floods Maryland politics with cash
    In April, the Maryland Board of Elections made a momentous announcement: In order to comply with a recent U.S. Supreme Court ruling, the total amount of money Maryland political donors may lawfully give to campaigns in a four-year period is now unlimited,...

    Baltimore's All-State Career School is in federal law-enforcers' cross-hairs

    Baltimore's All-State Career School is in federal law-enforcers' cross-hairs
    All-State Career School, a trade school in Baltimore for would-be truckers, healthcare workers, and others seeking a route to gainful employment, is apparently under federal criminal investigation for possible violations of U.S. Department of Education...

    Baltimore's New Deal: WPA-level spending has the power to remake the city, but much of it might be going away

    Baltimore's New Deal: WPA-level spending has the power to remake the city, but much of it might be going away
    Baltimore City’s first manufacturing forum took place on Oct. 7 in the Hilton, a deluxe hotel the city spent $300 million to build, which has lost about $50 million since its 2008 opening.  Caron Brace, the Mayor’s press secretary, and...

    Put $4.5 Billion In Your Pipe

    Put $4.5 Billion In Your Pipe
    The City Council Sept. 22 passed a bill that would more than double the borrowing limit of the Department of Public Works to $4.5 billion.  The money is needed to rebuild the city’s ancient water and wastewater systems, some of which date back a...