The Laffer Curve Explained

To those who don’t take a great deal of interest in economics, the concept of the Laffer Curve may make their eyes glaze over. That said, the concept is really quite simple and has a huge impact on our daily lives. A group called the Center for Freedom and Prosperity Foundation is working to educate [...]

Film Industry Touts Windfall: But is it Real?

Regular readers of this know that while economists support business and economic growth, there are right ways and wrong ways to go about it. The right way is low, equitable taxes for all while the wrong way is largesse for a few which often results in higher taxes for others. Over the weekend, the New [...]

Making Local Government Work

Gil Heredia is running for District 7 in Alamogordo. Unlike so many politicians who feel that the only way to improve city services is to raise taxes, Heredia is advocating private sector solutions that are likely to reduce Alamogordo’s tax burden (which is heavier than other Southeast New Mexico cities) while improving service delivery at [...]

Economic Development: The Wrong Way

A story in this morning’s Albuquerque Journal (subscription required) provides a case study that perfectly illustrates some of the biggest pitfalls of state-managed “economic development.”
First and foremost, having lured the Malaysia-based Green Rubber Global to the state with $2.9 million in subsidies, the plant’s opening had been delayed for technological issues. This is the [...]

Necessary Stimulus?

The economy is on the front pages of newspapers and at the top of most newscasts nowadays (at least it has replaced Britney Spears’ misadventures). President Bush and Congress agree that a so-called “stimulus package” is necessary, but each have their own ideas on what the package should contain.
Unfortunately, election time is known in Washington [...]

Why Cap Growing Film Industry?

Dan Mayfield, a columnist in the Albuquerque Journal, writes in today’s paper about New Mexico’s growing film industry and argues that policymakers should keep the spigot open by not limiting the amount of money the state dishes out.
You see, the current rebate program pays up to 25 percent on all direct production expenses that are [...]

TIDD’s: The Drama Deepens

The unfolding drama over TIDD’s and the subsidization of so-called “green field” development got even more interesting yesterday as Albuquerque Mayor Marty Chavez released his veto of Councilor Cadigan’s bill that would limit TIDD to use in existing areas of the City. The text of the veto can be found here.
While the Foundation is skeptical [...]

The Cost of TIF’s

Although we don’t always agree with the left-leaning 1000 Friends of New Mexico, this article on the hidden costs of TIDD is a must-read. TIDD for urban redevelopment is of questionable benefit because it would be so much more efficient to eliminate harmful government policies. Subsidizing politically-correct “new urbanist” developments in greenfields is nothing more [...]

Well, Surprise, Surprise…

It wasn’t the most prominent story in this morning’s newspaper, in fact, if you didn’t read the Business Outlook section closely, you probably missed it. The story is that the taxpayer-financed Santa Ana Star Center in Rio Rancho is losing money. (subscription required) Of course, I just noticed that the Tribune reported this story a [...]

The Economics of Smoking Bans

New Mexico has a statewide smoking ban and both cities and states around the nation have adopted similar bans (Albuquerque banned indoor smoking in 2003, while New Mexico was the 17th state to do so). But what are the economics of these bans? In 2004, two economists, Benjamin Alamar and Stanton Glantz produced a paper [...]

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