The realpolitik of state business subsidies ...Middle East

The Biden administration recently announced $8.5 billion in subsidies to build Intel’s new semiconductor plants. It sounds like a terrific deal, as subsidies often do if you only listen to what politicians say when they are writing big checks to big companies. It secures good-paying jobs for workers. It protects the future of the country. It demonstrates that this is the place where people want to be. We are building economic momentum. Yada yada yada. It is all baloney. There is a very simple reason that politicians hand out select favors. A spokesman for a company asked for favors and the elected official says yes. Elected officials don’t come up with a lot of original ideas. Th

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The realpolitik of state business subsidies ...Middle East

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