Infrastructure spending has become a favorite solution to sluggish economic growth… Ed Glaeser discusses myths and realities in an excellent article, “If You Build It..”, here:
http://www.city-journal.org/html/if-you-build-it-14606.html
Here is a takeaway quote:
“Subsidizing Big Mac consumption would be a more effective way to provide jobs for the temporarily unemployed than subsidizing airport renovation.”
Read the whole thing!
A hat tip goes to Alex Tabarrok, of my go to site, Marginal Revolution (http://marginalrevolution.com)…
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