Good post by the Urbanophile, entitled Mike Pence vs. Mitch Daniels. Gov. Daniels’ had a goal, not necessarily attained, of raising Hoosier incomes. Pence’s economic plan apparently abandons that goal, focusing solely on the number of jobs.
Using hyperbole to make a point – a slave economy tends to provide abundant and secure employment. But, of course, there is more to a job than just having work to do. You work to live; you shouldn’t live to work.
In the blog post, I liked the comparison of designing the economic conditions of a state to designing a neighborhood:
While everyone knows price matters when shopping for a house, I suspect few people live in the cheapest house or apartment they could find. Rather, they are more likely to live in the nicest house they could afford, in the best neighborhood, with the best schools, the nicest amenities, etc. Cost is a factor, but it’s not the only factor.
If your economic plan is designed to cater to those employers that are extremely cost sensitive, who won’t move in unless property taxes are rock bottom, for example; you aren’t likely to attract the types of employers that are able or willing to pay their employees very much.