January 3, 2005

Economic grants just don\'t work

The federal government spends tens of billions of dollars every year on economic-development projects, but it's not clear if the projects work. In 2001, for example, the figure was $57 billion. Peter Eisinger of Wayne State University observed that despite their dubious value the programs enjoy wide popularity and there is \"extremely broad agreement as to the desirability of substantial government involvement in the creation of private-sector employment.\"

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