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An Unwell Economy

by on October 19, 2011

Yay, jobs are good. Give us some, and we’ll have a place to work on top of money for burritos and lager. Hand over the employment, already. We won’t ask questions: using shady means to attract them is easier than trying to ascertain why they left in the first place and have stayed away.

For example, Buffalo may gain workers by utilizing the principles that brought America its present employment rate, GDP, and annual deficits. The transaction wouldn’t be worth the cost:

New jobs are at the core of a new push to expand Buffalo’s evolving medical corridor. The plan could breathe new life into an old downtown factory.

Reducing the percentage of empty factories is obviously a fine idea in abstract. But the vacancy-fillers should spend their own funds:

Nearly 100 new high-tech, high-paying jobs could be created by the end of 2012 – that’s from one company, alone. Senator Chuck Schumer is pushing for federal funding, to help expand medical research facilities in downtown Buffalo.

With the Economic Development Commission’s help, new facilities would be created in the old Trico Plant. Right now, that building is empty.

Maybe it’s empty because taxes and regulations are so ridiculously formidable, not to mention that companies know they can wait for government cheese. Schumer and whoever writes for WIVB’s site paired to explain how economics works:

Through expansion, business would stay in the city, rather than being shipped out to other parts of the state or country. Small start-up companies can work in the space until they need more, and Schumer believes when they need more space, they will find it in Buffalo.

They sure can’t find it on their own. Who’d think a commercial concern could locate space without a senator’s help? That’s not the way it works in stimulated America.

Today, one doesn’t even need experience having run a business to tell businesses what to do. Schumer, who coincidentally went straight from law school to the New York Assembly, is just the man to trust to fix Buffalo’s economy. As someone with zero experience creating jobs, he can be counted upon to remain dispassionate and not let anything like experience or knowledge affect his judgment.

There will be a meager payoff even if a business does end up occupying the space. Filling the Trico void wouldn’t account for the money taken out of the economy to bribe the new tenant.

Oh: they’d use federal money and not local tax receipts? That’s fine for those who are miserably calculating about spending cash taken from others, although some economists think debt may just possibly affect the entire nation and not just involuntary suckers from non-New York states who fund ventures in Western New York.

Schumer is exactly the sort of power-tripping camera hog who derives satisfaction from playing favorites. He and fellow elected officials of his affiliation adore throwing money at companies that they’re certain will manufacture jobs. Solyndra is just their most notable investing success.

Their track record indicates that they are unaware how real growth comes from reducing the barriers to entry. And Schumerites don’t get that low unemployment is a byproduct of flourishing demand.

Good conditions lead to good jobs. Buffalo habitually attempts to inverse that notion, which is why even the thought of a business moving into town is such big news.

Anyone possessing any confidence that federal, state, or local officials will increase prosperity via corporate welfare has ignored what’s happened in America since 2009 or New York and Buffalo over the last few decades. Despite its foothold, medical research will truly flourish downtown only when leaders who have never done financial research stop mucking up the system.

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