Renewing AmericaRenewing America

Must Read

PrintPrint EmailEmail ShareShare CiteCite
Style:MLAAPAChicagoClose

loading...

Washington Post: Infrastructure Projects to Fix the Economy? Don't Bank on It.

Author: Chris Edwards
October 21, 2011

Share

Increased infrastructure spending has significant support in Washington these days, but Chris Edwards doubts its ability to lift the economy.

In a recent television ad for her network, MSNBC host Rachel Maddow stands below the Hoover Dam and asks whether we are still a country that can “think this big” — Hoover Dam big. The commercial is built on the assumption that American greatness is advanced by federal spending on major infrastructure projects.

If I had my own television commercial, I'd stand in front of the wreckage of Idaho's Teton Dam,which, like the Hoover Dam, was built by the federal Bureau of Reclamation. The Teton Dam was based on shoddy engineering and a flawed economic analysis. It collapsed catastrophically in 1976, just a year after it was built. 

Full Text of Document

More on This Topic

Foreign Affairs Article

Can Economists Learn?

Author: Alan S. Blinder

A recent book of essays by top economists suggests that many of the lessons of the 2008 financial crisis were ones that should have been...

Op-Ed

How the Fed Flubbed It

Author: Sebastian Mallaby
The Atlantic

CFR Senior Fellow Sebastian Mallaby reviews economic historian Barry Eichengreen's newest book Hall of Mirrors, which argues that history...