Sunday, October 14, 2012

Where are the most affluent counties in the nation?

"Seven of the 10 most affluent counties in the nation are near Washington, D.C." That is according to a NY Times article by George Mason University economist Tyler Cowen called That Blurry Line Between Makers and Takers. Here is an excerpt:
"The problem is that taking, rather than making wealth, appears to be growing in relative influence.  
Most of us are actually both makers and takers. Consider farmers who produce food and favor agricultural subsidies. The question is whether the role of wealth maker has more influence over our politics, at any given time, than does the taker role. Is public policy being adjudicated on grounds of ethics and efficiency, or is the real story about lobbying and the relative power of different interest groups?  
It isn’t easy to measure whether politics is less public-spirited these days, and we should resist the tendency to idealize the past. Still, job creation, median income and other measures of economic well-being have done poorly since the late 1990s. That suggests that America isn’t paying enough attention to creating wealth and increasing general prosperity. 
FOLLOW THE MONEY Seven of the 10 most affluent counties in the nation are near Washington, D.C. That means a growing number of educated people are making a very good living advising, lobbying and otherwise influencing the federal government. This is a talent drain. It’s far from obvious that we are getting better policy as a result, and true wealth creation has not kept pace."

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