Persky (economics, University of Illinois-Chicago) offers a new framework for evaluating state and local economic development efforts, a method that clarifies the potential justifications for economic development subsidies as well as the limitations surrounding these efforts. He reviews the variations of the traditional approach to project evaluation, then describes the new model and applies it to job chains in boom and bust years, across geographical divisions, and in services and manufacturing. Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)
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