Subsidizing the criminal class

To the Editor, The headline on the business page of the Thursday November 16 Providence Journal said it all. “More state help for developer” For the umpteenth time the I-195 commission is giving more money to some very wealthy developer so they can build a building where the highway used to be. We are told this is necessary for economic development.

The reality is that the entire model of real estate development driven economic development is broken. Broken so badly it ought to be abandoned. Economic development experts such as the IMF and the World Bank have repeatedly pointed out that subsidizing the rich to build buildings does not contribute to long term community prosperity and drives much of the inequality that is harming our communities. In Providence we make this worse by focusing on building subsidized buildings for the medical industrial complex, which guarantees that health care will be unaffordable for more and more people.

Some day we shall learn, but as long as Wall St and real estate interests determine our policies, be prepared for more hard times, especially when the next real estate bubble bursts.

Greg Gerritt

One thought on “Subsidizing the criminal class

  1. Just Excellent letter.
    Rampant everywhere. Growth is the problem not the answer.
    Part of our race to the bottom. [See below]

    I think IF OUR NATION IS EVER TO COME TOGETHER, it will be OVER TWO OVERARCHING ISSUES:
    1. Special Interests controlling our government and the media, which makes it impossible to pass any meaningful legislation. Good government must be able to create strategy for where our society should be heading and plans to get there for the common good of the people, future people, and the planet. Private companies may fill a role to provide goods and services to fulfill that strategy within the plans.
    … and
    2. Our culture of looking to (eternal) growth is the SOURCE of most of our problems, NOT the solution. The USA doubles its GDP every 40 years and doubles its population every 60 years. Growth overwhelms all else we try to do to help the environment and our society and to achieve true sustainability. Climate Change is one of the many symptoms, as is crowding, overfishing, pollution, the need for franken foods and the anthropocene. So is income inequality, loss of quality-of-life, and always more revenue needed to accommodate quantity rather than quality.
    Sign onto CASSE at http://steadystate.org/, or better have your organization sign on; see also http://www.growthbusters.org/.

    To me, these two overarching issues should get way more attention than they do get – by both individuals and organizations.

    All else, IMHO, is to a large extent a symptom of these two overarching issues. Is your organization including these overarching issues in its program? Probably not – unless you put on the pressure!

Leave a Reply

Your email address will not be published. Required fields are marked *