Friday, November 16, 2012

Now all we need is Larry and MO: President Obama's Wealth Destroying Goal: Taking The 'Curley Effect' Nationwide - Forbes

President Obama's Wealth Destroying Goal: Taking The 'Curley Effect' Nationwide - Forbes

As defined by Harvard scholars Edward L. Glaeser and Andrei Shleifer in a famous 2002 article, the Curley effect (named after its prototype, James Michael Curley, a four-time mayor of Boston in the first half of the 20th century) is a political strategy of “increasing the relative size of one’s political base through distortionary, wealth-reducing policies.” Translation: A politician or a political party can achieve long-term dominance by tipping the balance of votes in their direction through the implementation of policies that strangle and stifle economic growth. Counterintuitively, making a city poorer leads to political success for the engineers of that impoverishment.
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