An Infrastructure Plan That Would Actually Work by Willem Buiter & Dag Detter – Project Syndicate

The total value of commercial assets owned by state and local governments is sure to be of the same magnitude, or larger. After all, local governments own and operate most airports and ports, as well as utilities such as water, sewerage, and electricity – all of which are in desperate need of funding. But real estate comprises the bulk of public commercial assets. By some estimates, publicly owned assets account for as much as one-quarter of the total market value of real estate in a city or county. At the same time, many localities need additional funding for affordable housing.

All told, this public wealth represents a substantial opportunity for investors, local governments, and society as a whole. If professionally managed, the yield from such a vast portfolio of commercial assets could fund not just critically needed infrastructure investments, but also any other public goods and services that are in demand.

Source: An Infrastructure Plan That Would Actually Work by Willem Buiter & Dag Detter – Project Syndicate

Seychelles Finds A Novel Way To Swap Its Debt For Marine Protections : The Two-Way : NPR

The Seychelles have brokered a novel deal that will allow the island archipelago to swap millions of dollars in sovereign debt for protecting nearly one third of its ocean area.

It’s hailed as the first of its kind. “Seychelles is clearly breaking new grounds and with it, it has positioned itself as a world leader in ocean governance and management,”

https://www.npr.org/sections/thetwo-way/2018/02/23/588273709/seychelles-finds-a-novel-way-to-swap-its-debt-for-marine-protections

Vernacular Economics: How Building Codes & Taxes Shape Regional Architecture – 99% Invisible

Ever noticed how the bricks on newer British buildings are bigger, or stopped to appreciate hand-stenciled wallpaper, or enjoyed a sip from a fancy hollow-stemmed glass? If so, you may well be admiring a product of regulation and taxes as much aesthetic tastes. From basic materials to entire architectural styles, building codes and taxation strategies have had huge historical impacts on the built world as we know it. Take the capital of France, for instance.

Source: Vernacular Economics: How Building Codes & Taxes Shape Regional Architecture – 99% Invisible

Why cities should stop fighting big banks and create their own – Salon.com

Frack-happy, Trump-supporting North Dakota probably isn’t the first place you would expect to find a working model, but since 1919, the state has used the Bank of North Dakota to finance everything from student loans to sewer upgrades and small business loans. The bank just posted its thirteenth consecutive year of record profits, earning more than $136 million in 2016. And unlike at a big private bank, that money goes right back into investing in the people, rather than into investors’ pockets.

Source: Why cities should stop fighting big banks and create their own – Salon.com

Three Reasons Trickle-Down Tax Cuts Don’t Work

History shows that bad economic ideas almost never die, especially when they serve the wealthy and powerful. There’s no better example of this truth than trickle-down tax cuts. As we write this, the Trump administration is teeing up a tax plan that slashes taxes for the wealthy and the corporate sector, does little for everyone else (repealing the Affordable Care Act actually raises taxes on some with low and moderate incomes), and stiffs the U.S. Treasury to the tune of $6.2 trillion, according to the Tax Policy Center’s estimates.

Source: Three Reasons Trickle-Down Tax Cuts Don’t Work

Paul Krugman: Donald Trump’s infrastructure plan is one big scam – Salon.com

Paul Krugman: Donald Trump's infrastructure plan is one big scam

Trump’s plan to rebuild the country’s infrastructure is really a scheme to enrich wealthy people…..

There is also the fact that private investors will have no interest in building infrastructure that can’t be turned into a profit center. Privatizing these public projects is a gratuitous hand out to select investors, who would be aquiring public assets for “just 18 cents on the dollar, with taxpayers picking up the rest of the tab.

Source: Paul Krugman: Donald Trump’s infrastructure plan is one big scam – Salon.com

Fear Spreads of a Housing Crash in Canada | Alternative Economics

The reading marks a change from almost unbridled consumer optimism in a housing market that has carried the Canadian economy since the 2008 global financial crisis, even as policy makers warn price gains in some cities are unsustainable.

Source: Fear Spreads of a Housing Crash in Canada | Alternative Economics