Wanted to share a fascinating article on the lasting imprint of slavery on Alabama’s revenue system and structural fiscal problems.
Key takeaways for me:
First, obviously slavery was a huge part of the Southern economy — indeed the US economy — and as such it played a huge role in state taxation. As the article notes, in the mid-1800s slave taxes accounted for more than half of state revenue in Georgia and nearly half in Alabama. You’d be hard pressed to find a closer tie between race and tax policy.(more…)
I’m reading a pretty interesting book titled ‘The Geography of Jobs’ by Economist Enrico Moretti. The book details the divergence of American cities, pointing to the vast disparities generated by education, city-level job sector allocations and the migration of skilled labor to innovation hubs. The interview below does a great job of summarizing Moretti’s findings.