Over at the Wall Street Journal’s Wealth Report, Robert Frank notes:
Government outlays on physical infrastructure have declined to 2.7 percent of the gross domestic product, he says, from 3.6 percent in the 1960s. Philanthropic giving, in contrast, has jumped to nearly 2.5 percent of GDP.
This leads him to wonder:
With privatization all the rage, why not take things a step further? Why not offer today’s rich some real incentives to strengthen the country’s infrastructure with naming rights. Rather than naming bridges, airports and roads after politicians (which is weird, given that taxpayers pay for them), they could be named after private benefactors. We could have the Bill Gates International Airport in Seattle, or Icahn Avenue in Manhattan. (I’d draw the line at the Trump Tunnel.)
I hate naming rights as much as the next guy. But if private money prevents our bridges and roads from from falling down, I don’t care what they’re named. Someday I might even be able to enjoy a faster, less-crowded subway ride aboard the Buffett Express.
Hmm…. Maybe we have a potential funding mechanism for Baton Rouge’s long sought after loop?
About Lance
I want to thank everybody who has encouraged me over the past few years to do this. I doubt it will hold but a few people's interest, but that is okay with me. Special thanks go to Peter over at http://www.liberalcapitalist.com.
I value my privacy a great deal, so I will guess you will have to get to know me over time to find out much. I am in the financial services, wealth management, investing or whatever you want to call it business. I have children, my oldest is entering college.
I have no great or imposing academic background, my grades varied from high enough to get invited to an honors program at my university to frustrating enough to cause my father great grief. My major was history, with a minor in ethics. My main interest towards the end was in the history of economic ideas before life took a turn and I ended up never going on to graduate school. However, I have a fair knowledge of history, economics, investing and would probably be considered well read. My tastes are eclectic and I pretty much find the entire world interesting.
I have an enduring interest in how people learn about and analyze the world; my posts here will examine this topic in detail over time. I make no claims to be above the very biases and errors I see in others, in fact it is my belief that we are incapable of escaping them, only moderating their control over us.
I am a member of no political party, but I would broadly consider myself a man of the right. I am inclined to free market economics, limited government and a fairly narrow view of the role of the state. A small L libertarian if you will. However, if you are looking for broad based "the left believes..." or "wingers are so...." types of attacks on liberals, conservatives, neo-cons or whatever enemy you want to slam, look elsewhere.
Lance
If private, then corporations too right? I think a few distopian novels predicted this in the future.
Next up, my Second Life VR goggles.
Snow Crash comes to mind if I remember correctly.
Since the monopoly/regulation of violence is STILL a governmental affair (IMHO rightly should), I still don’t think we have to worry about the full Snow Crash implications of Don Gorgonzola tunnel since his “protection/insurance company” can’t fully touch the security of it…
Also, being a Louisiana man, considering how FUBAR every level of government worked during Katrina, I wouldn’t mind seeing a change.
I think Lance knows what I mean…
Definitely Frank, but right now I am concentrating on another BCS Championship!
Geaux Tigers!