Business

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    Amazon changes its mind–New Yorkers should be happy

    New York City and State were on the verge of handing over up to $3 billion in subsidies to Amazon as an enticement (bribe) to get them to locate a new headquarters on Long Island in Queens. Luckily for the people of New York, Amazon is backing out of the…
    Roy Cordato, February 14, 2019
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    Ignorance of complex N.C. ABC rules doesn’t give state a pass

    Carolina Journal ABC expert, John Trump, writes that the biggest obstacle facing reform is the public having a lack of knowledge on how the system works and who profits from it. Need an explanation of the complex, Prohibition-era heavy-handed ABC laws of the state? Look no further: It’s difficult…
    Anna Manning, February 1, 2019
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    Senator Warren’s Idea of Capitalism

    Today’s editorial in the Wall Street Journal  (paywall) is to the point: Senator Elizabeth Warren wants to turn businesses into de facto public utilities. As an example of what would happen, the editorial looks at the PG&E utility bankruptcy fiasco and the cost to taxpayers.
    Kory Swanson, February 1, 2019
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    Tax cuts, innovation, and economic growth

    Paul Romer won the Nobel prize in economics for showing how innovation creates economic growth. A new working paper from Raj Chetty and his colleagues presents a model of how much innovation results from tax cuts. Their model suggests tax changes “have no impact on the decisions of star inventors,…
    Joseph Coletti, January 31, 2019
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    Economic growth and…

    “Economic growth, while necessary, is insufficient to address many of the challenges of our 21st-century economy,” Abby McCloskey writes in National Affairs. She offers some policy suggestions to improve connections in community, make work pay, and reform entitlements to improve government finances. I don’t endorse all of them, but…
    Joseph Coletti, January 29, 2019
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    Forced Hike In Minimum Wage = $10,000 to $12,000 Tab For Restaurant Customers

    As of today, Missouri businesses must increase the minimum wage from $7.85 to $8.60 per hour. The Associated Press reports this will be the first of multiple wage hikes that will culminate in a minimum wage of $12 per hour. The hike was approved by voters. The results are…
    Donna Martinez, January 1, 2019
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    Economic Incentives Unlikely To Influence Corporate Relocations – No Surprise There!

    Senate Bill 820, approved by the NC Senate this week, would choose “economic development” policies over economic growth policies.  John Locke Foundation’s Jon Sanders and Dr. Roy Cordato explain the difference between economic development and economic growth and how this is not a good choice: Policies for economic development “target specific…
    Anna Manning, December 4, 2018
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    Honeywell and the incentives game

    As N.C. politicians celebrate Honeywell’s decision to relocate its corporate headquarters to Charlotte, they might want to file away Rob Jennings’ latest report at NJ.com. It calls into question government’s ability to use targeted tax incentives to sway business decisions. The planned relocation comes just three years after…
    Mitch Kokai, December 3, 2018