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...History would seem to side with the economists. In 2006, Detroit hosted the America's most gargantuan sports event, the Super Bowl, also at Ford Field. Fans gave the area a $274 million boost, according to one economic research firm. Over 90 million people watched the face-off between the Pittsburgh Steelers and Seattle Seahawks on television. Did the game lift Detroit long-term? Well, Detroit's unemployment rate is 13%, worst in the country among major metropolitan areas. The city's bonds have junk ratings. Because its school system has run up a $305 million deficit, the city...
...Final Four isn't a magic pill that will make Detroit all better. But still, it is at least a temporary boost, especially in these grim times. "This economic injection is real and important," says Rodney Fort, a University of Michigan economist who also specializes in sports. "It's just not permanent." Beyond dollars, we shouldn't discount the intangible perks a major sports event delivers to a city. Detroit families can discuss the big game instead of the plant closing, maybe catch a free concert downtown. And though Michigan State's run may cost the state some extra cash...
...Natural Resources Defense Council. This is why community report cards help promote preventive health care and why interdorm conservation competitions help colleges save energy. And this is why Administration officials - after their crash course in run-on-the-bank mentalities cited in Animal Spirits - are trying to boost consumer confidence into a social norm...
...early 1500s, Pope Leo X underwrote his lavish lifestyle in part by taxing licensed prostitutes, and Peter the Great preyed on Russian vanity two centuries later by charging men who grew beards. In the Federalist papers, American patriot Alexander Hamilton proposed an excise tax on alcohol to boost revenues and curb consumption. The measure, enacted in 1791, sparked the Whiskey Rebellion, in which federal authorities were forced to quash an uprising by livid Pennsylvania settlers...
...what are the key points agreed on, and how will they play out? The leaders neatly skirted the biggest point of contention in the run-up to the summit: whether to boost national economic-stimulus packages. Instead, the G-20 focused on two other significant areas: the funds available to international institutions to help poor or struggling economies to withstand the crisis, and tougher global regulation of financial markets. (See pictures of the global financial crisis...