AF-Dallas: Ending the Development Subsidy Arms Race (Virtual)
September 30, 2020 12:00 PM - 1:00 PM
Research generally finds that economic development subsidies have a negligible effect on measures of local economic well-being and are typically ineffective at swaying companies to relocate, expand, or retain jobs. Despite this, governments continue to provide such subsidies, even as tax receipts decline in the coronavirus-caused economic downturn.
Still, states and localities are caught in an unfortunate trap – if they don’t offer these benefits, they can credibly argue that some businesses will choose to locate elsewhere. Development subsidies are a quintessential example of a prisoner’s dilemma – so what is to be done? Join AF-Dallas on September 30th to listen to Michael Farren explain an innovative solution to this serious problem.
Michael D. Farren is a Research Fellow at the Mercatus Center at George Mason University. His research focuses on the effects of government favoritism toward particular businesses, industries, and occupations, specializing in labor, economic development, and transportation issues.
Michael has testified before Congress and numerous state legislatures and his research and commentary have been featured in the New York Times, the Wall Street Journal, the Washington Post, and at National Public Radio, among others. He blogs about economic policy and the monthly jobs report at The Bridge.
Michael received his PhD in applied economics from Ohio State University and participated in the Frédéric Bastiat Fellowship at the Mercatus Center. He is licensed as a Professional Engineer and received his MS in transportation engineering and BS in civil engineering from Ohio State University.