Sunday, April 22, 2012

On Allen Johnson's not online Greensboro Performing Arts Center propaganda in GN&R's Sunday Edition

"If an arts center is built in Greensboro it belongs downtown..."

No mention that the GN&R parking lot is at the top of the leader board
in the running for where to put the PAC? an unqualified success, projecting $1.2 million in profits this year..."

Before or after debt payments?

Does Allen really mean "operating profits"? 

"If anything, this ...should be transparent to a fault,
tell all gladly, to anyone who asks
and give the conspiracy theorists nowhere to go"

Allen Johnson

How about disclosing the Greensboro News and Record's
conlfict of interest on potential sites,one of which is thier parking lot,
when promoting the PAC?

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The News & Record buildings are directly above the pedestrian bridge.

Hat Tip: Ed Cone

" is an attempt to obtain economic rent
by manipulating the social or political environment in which economic activities occur,
rather than by creating new wealth.

...spending money on political lobbying in order to be given a share of wealth
that has already been created.

...People accused of rent seeking typically argue
that they are indeed creating new wealth (or preventing the reduction of old wealth)
by improving quality controls,
guaranteeing that charlatans do not prey on a gullible public...

Many current studies of rent-seeking focus on efforts
to capture various monopoly privileges stemming from government regulation
of free enterprise competition.

The term itself derives, however,
from the far older practice of appropriating a portion of production
by gaining ownership or control of land.

...the expenditure of resources attempting to enrich oneself
by increasing one's share of a fixed amount of wealth
rather than trying to create wealth.

Since resources are expended but no new wealth is created,
the net effect of rent-seeking is to reduce the sum of social wealth.

Rent-seeking generally implies the extraction of uncompensated value from others
without making any contribution to productivity.

...a more common example of rent-seeking is political lobbying
to receive a government transfer payment,
or to impose burdensome regulations on one's competitors
in order to increase one's market share.

...such behaviors may result in substantial social losses.


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1 comment:

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