Good government dies in the darkness. This article is getting a lot of attention on Wonk Twitter and what’s left of the blogosphere. From the abstract: We examine the effect of local newspaper closures on public finance for local governments. Following a newspaper closure, we find municipal borrowing costs increase by 5 to 11 basis points in the long run …. [T]hese results are not being driven by deteriorating local economic conditions. The loss of monitoring that results from newspaper closures is associated with increased government inefficiencies, including higher likelihoods of costly advance refundings and negotiated issues, and higher government wages, employees, and tax revenues. What the hell happened at GE? This guy blames Jeff Immelt’s buy-high/sell-low strategy. I blame Jack Welch. Academic writing is terrible. Science journalist Anna Clemens wants to change that. (Plus she quotes one of my grad school professors, Paul Zak Here’s what Clemens…
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