Posts Tagged ‘economic development’

Elvis & Corporate Welfare

April 18, 2019

The dirt-poor city of Memphis is giving tax breaks to Graceland.

“So why, you might ask, is a city that regularly ranks among the nation’s poorest giving several hundred million dollars in tax breaks to a long-dead rock star’s house museum where the cheapest ticket costs $41?”

— “This Has to Be One of the Most Ridiculous Corporate Welfare Deals in Quite Some Time,” Henry Grabar, Slate

 

Video: “Money Honey,” written by Jesse Stone, recorded by Elvis Presley, 1956.

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Comedy Museum Opens

August 21, 2018
Comedy Museum Opens

National Comedy Museum — Artist’s Concept.

The nonprofit National Comedy Center has opened in Jamestown, NYAppalachian Jamestown is the birthplace of Lucille Ball, who left when she was 3 years old. Her family later moved to nearby Celoron, a lakeside village with a great amusement park, and young Lucy understandably preferred living there. Soon after her family went broke and moved back to Jamestown, 14-year-old Lucy left for New York City. Somehow Jamestown got the Comedy Center and Celoron got a really ugly statue of Lucy (later replaced).

More:

“The Serious Mission Behind a $50 Million Comedy Museum,” Michael Stahl, CityLab

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Top image (“National Comedy Center — artist’s conception”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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New York State Funds National Comedy Center

August 14, 2017

New York State Funds National Comedy Center
National Comedy Center (artist’s concept)

The nonprofit National Comedy Center in Jamestown, NY has received a $500,000 grant from the New York State government. Appalachian Jamestown is the birthplace of Lucille Ball, who left when she was 3 years old. Her family later moved to nearby Celoron, a lakeside village with a great amusement park, and young Lucy understandably prefered living there. After her family went broke and moved back to Jamestown, 14-year-old Lucy soon left for New York City. Somehow Jamestown got the Comedy Center and Celoron got a really ugly statue of Lucy (later replaced).

It will cost $50 million to complete the Comedy Center. That’s a lot of whoopee cushions. State funding totals $14 million, the U.S. Department of Commerce kicked in $2 million, and the balance has come from private foundation sources. The center will open in 2018, but Jamestown held its annual Lucille Ball Comedy Festival last week, and there seems to be a Lucy-Desi Museum there, too. If you want to pay your respects, Lucy’s remains were moved to Jamestown’s Lake View Cemetery.

More:

“Editorial: While some joke about a comedy center in Jamestown, the concept makes sense,” Buffalo News

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Top image (“National Comedy Center — artist’s conception”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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Angus Deaton

October 13, 2015

Angus Deaton has been awarded the Nobel Prize in Economics.

“To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices. More than anyone else, Angus Deaton has enhanced this understanding. By linking detailed individual choices and aggregate outcomes, his research has helped transform the fields of microeconomics, macroeconomics, and development economics.”

— Royal Swedish Academy of Sciences

More:

“Princeton professor Angus Deaton wins Nobel Prize in economics,” Jeff Guo, Washington Post

“Why Angus Deaton Deserved the Nobel Prize in Economics,” Christopher Blattman, Foreign Policy

Video [21:02]: Angus Deaton addressing the Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA) on “Health, Wealth and the Origins of Inequality.” October 17, 2013. A complete audio recording of his remarks is here.

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