Paul E. Peterson - Böcker

Winner of the 1981 Woodrow Wilson Foundation Award for the best book published in the United States on government, politics, or international affairs. "City Limits radically reinterprets urban politics by deriving its dominant forces from the logic of the American federal structure. It is thereby able to explain some pervasive tendencies of urban political outcomes that are puzzling or scarcely noticed at all when cities are viewed as autonomous units, outside the federal framework. Professor Peterson's analysis is imaginativelyfor conceived and skillfully carried through. His beautifully finished volume will lastingly alter our understanding of urban affairs in America."—from the citation by the selection committee for the Woodrow Wilson Foundation Award

Invaluable insights on trading today's futures marketThe CME Risk Management Handbook provides an accessible overview of the futures market in today's electronic world of trading. Page by page, it outlines the various CME products currently available and explains how those products can be used to manage risk. Financial professionals around the world will find this book to be a comprehensive reference to the most widely used risk management, trading, and hedging strategies. Editors John Labuszewski and John Nyhoff–two of the most highly-regarded names in futures and options research and risk management–put this discipline in perspective and offer readers invaluable insights into successfully operating within this environment.Chicago Mercantile Exchange Inc. is an international marketplace that brings together buyers and sellers on its trading floors and GLOBEX around-the-clock electronic trading platform. CME offers futures contracts and options on futures, primarily in four product areas: interest rates, stock indexes, foreign exchange, and commodities. John W. Labuszewski, MBA, is a Director of Clearing Development at CME. John Nyhoff, MBA, is a Director of Financial Research and Development at CME.

Saving Schools traces the story of the rise, decline, and potential resurrection of American public schools through the lives and ideas of six mission-driven reformers: Horace Mann, John Dewey, Martin Luther King Jr., Albert Shanker, William Bennett, and James Coleman. Yet schools did not become the efficient, egalitarian, and high-quality educational institutions these reformers envisioned. Indeed, the unintended consequences of their legacies shaped today’s flawed educational system, in which political control of stagnant American schools has shifted away from families and communities to larger, more centralized entities—initially to bigger districts and eventually to control by states, courts, and the federal government.Peterson’s tales help to explain how nation building, progressive education, the civil rights movement, unionization, legalization, special education, bilingual teaching, accountability, vouchers, charters, and homeschooling have, each in a different way, set the stage for a new era in American education.Now, under the impact of rising cost, coupled with the possibilities unleashed by technological innovation, schooling may be transformed through virtual learning. The result could be a personalized, customized system of education in which families have greater choice and control over their children’s education than at any time since our nation was founded.

The contemporary debate over racial classification has been dominated by fringe voices in American society. Cries from the right say history should be abrogated and public policy made color-blind, while zealots of the left insist that all customs, language, institutions, and practices are racially tinged and that only aggressive, color-conscious programs can reverse the course of American history. The essays in this volume, however, recognize that racial classification is an issue that cuts too deep and poses too many constitutional questions to be resolved by slogans of either the right or the left. The contributors to this volume are James Alt, Kenneth Benoit, Henry Brady, John Bruce, Rodolfo O. de la Garza, Andrew Gelman, Lani Guinier, Fredrick C. Harris, Gary King, Robert C. Lieberman, David Ian Lublin, David Metz, Paul E. Peterson, Kay Lehman Schlozman, Kenneth Shepsle, Theda Skocpol, Katherine Tate, Richard Valelly, Sidney Verba, and Margaret Weir. Originally published in 1995. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press.These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

The contemporary debate over racial classification has been dominated by fringe voices in American society. Cries from the right say history should be abrogated and public policy made color-blind, while zealots of the left insist that all customs, language, institutions, and practices are racially tinged and that only aggressive, color-conscious programs can reverse the course of American history. The essays in this volume, however, recognize that racial classification is an issue that cuts too deep and poses too many constitutional questions to be resolved by slogans of either the right or the left. The contributors to this volume are James Alt, Kenneth Benoit, Henry Brady, John Bruce, Rodolfo O. de la Garza, Andrew Gelman, Lani Guinier, Fredrick C. Harris, Gary King, Robert C. Lieberman, David Ian Lublin, David Metz, Paul E. Peterson, Kay Lehman Schlozman, Kenneth Shepsle, Theda Skocpol, Katherine Tate, Richard Valelly, Sidney Verba, and Margaret Weir. Originally published in 1995. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press.These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Local school boards have traditionally assigned the school that a child is to attend. Only by selecting their neighborhoods have parents exercised their choice of school. In recent years, this tradition has slowly given way to magnet schools, inter-district choice programs, charter schools, voucher programs, and many other forms of choice, creating a new environment for school decision making. At the same time, market concepts are under consideration for the recruitment and compensation of teachers and principals. As a result, the world of education is becoming more competitive. In a group of essays originally published in Education Next: A Journal of Opinion and Research, this book examines the likely promise and pitfalls of these changes in American education. Overall, these essays paint the picture of an education landscape that will be greatly shaped by choice and competition in the 21st century.

Local school boards have traditionally assigned the school that a child is to attend. Only by selecting their neighborhoods have parents exercised their choice of school. In recent years, this tradition has slowly given way to magnet schools, inter-district choice programs, charter schools, voucher programs, and many other forms of choice, creating a new environment for school decision making. At the same time, market concepts are under consideration for the recruitment and compensation of teachers and principals. As a result, the world of education is becoming more competitive. In a group of essays originally published in Education Next: A Journal of Opinion and Research, this book examines the likely promise and pitfalls of these changes in American education. Overall, these essays paint the picture of an education landscape that will be greatly shaped by choice and competition in the 21st century.

A clear, accessible analysis of the worsening distribution of income and wealth in America.

Offers a clear understanding of what Social Security has accomplished in the past, challenges it now faces, and possibilities for the future. Outlines the full spectrum of current issues, policies, benefits, and proposed reforms.

As federal funding for public broadcasting wanes and support from corporations and an elite group of viewers and listeners rises, public broadcasting's role as vox populi has come under threat. With contributions from key scholars from a wide variety of disciplines, this volume examines the crisis facing public broadcasting today by analyzing the institution's development, its presentday operations, and its prospects for the future. Covering everything from globalization and the rise of the Internet, to key issues such as race and class, to specific subjects such as advertising, public access, and grassroots radio, Public Broadcasting and the Public Interest provides a fresh and original look at a vital component of our mass media.

As federal funding for public broadcasting wanes and support from corporations and an elite group of viewers and listeners rises, public broadcasting's role as vox populi has come under threat. With contributions from key scholars from a wide variety of disciplines, this volume examines the crisis facing public broadcasting today by analyzing the institution's development, its presentday operations, and its prospects for the future. Covering everything from globalization and the rise of the Internet, to key issues such as race and class, to specific subjects such as advertising, public access, and grassroots radio, Public Broadcasting and the Public Interest provides a fresh and original look at a vital component of our mass media.

The many recent high profile corporate scandals highlight the need for companies to do a better job of integrating ethics and responsibility into business decisions - and for business schools to integrate ethics awareness and training into their curricula. This volume sets the agenda for business ethics and corporate responsibility in the future. It brings together ideas, challenges, and proposed solutions for thinking about - and implementing - effective ethics programs in business schools and business organizations. Edited by two highly regarded business educators, and featuring contributions by leading scholars and administrators, Business Ethics: New Challenges for Business Schools and Corporate Leaders covers all dimensions of ethical decision making - individual, organizational, and societal. The thirteen original chapters offer new and emerging perspectives for creating ethical business leadership and developing organizational ethics initiatives.

Commodity Derivatives: A Guide for Future Practitioners describes the origins and uses of these important markets. Commodities are often used as inputs in the production of other products, and commodity prices are notoriously volatile. Derivatives include forwards, futures, options, and swaps; all are types of contracts that allow buyers and sellers to establish the price at one time and exchange the commodity at another.These contracts can be used to establish a price now for a purchase or sale that will occur later, or establish a price later for a purchase or sale now. This book provides detailed examples for using derivatives to manage prices by hedging, using futures, options, and swaps. It also presents strategies for using derivatives to speculate on price levels, relationships, volatility, and the passage of time. Finally, because the relationship between a commodity price and a derivative price is not constant, this book examines the impact of basis behaviour on hedging results, and shows how the basis can be bought and sold like a commodity.The material in this book is based on the author’s 30-year career in commodity derivatives, and is essential reading for students planning careers as commodity merchandisers, traders, and related industry positions. Not only does it provide them with the necessary theoretical background, it also covers the practical applications that employers expect new hires to understand. Examples are coordinated across chapters using consistent prices and formats, and industry terminology is used so students can become familiar with standard terms and concepts. This book is organized into 18 chapters, corresponding to approximately one chapter per week for courses on the semester system.

Commodity Derivatives: A Guide for Future Practitioners describes the origins and uses of these important markets. Commodities are often used as inputs in the production of other products, and commodity prices are notoriously volatile. Derivatives include forwards, futures, options, and swaps; all are types of contracts that allow buyers and sellers to establish the price at one time and exchange the commodity at another.These contracts can be used to establish a price now for a purchase or sale that will occur later, or establish a price later for a purchase or sale now. This book provides detailed examples for using derivatives to manage prices by hedging, using futures, options, and swaps. It also presents strategies for using derivatives to speculate on price levels, relationships, volatility, and the passage of time. Finally, because the relationship between a commodity price and a derivative price is not constant, this book examines the impact of basis behaviour on hedging results, and shows how the basis can be bought and sold like a commodity.The material in this book is based on the author’s 30-year career in commodity derivatives, and is essential reading for students planning careers as commodity merchandisers, traders, and related industry positions. Not only does it provide them with the necessary theoretical background, it also covers the practical applications that employers expect new hires to understand. Examples are coordinated across chapters using consistent prices and formats, and industry terminology is used so students can become familiar with standard terms and concepts. This book is organized into 18 chapters, corresponding to approximately one chapter per week for courses on the semester system.

The relative deficiencies of U.S. public schools are a serious concern to parents and policymakers. But they should be of concern to all Americans, as a globalizing world introduces new competition for talent, markets, capital, and opportunity. In Endangering Prosperity, a trio of experts on international education policy compares the performance of American schools against that of other nations. The net result is a mixed but largely disappointing picture that clearly shows where improvement is most needed. The authors' objective is not to explain the deep causes of past failures but to document how dramatically the U.S. school system has failed its students and its citizens. It is a wake-up call for structural reform. To move forward to a different and better future requires that we understand just how serious a situation America faces today.For example, the authors consider the Programme for International Student Assessment (PISA), an international mathematics examination. America is stuck in the middle of average scores, barely beating out European countries whose national economies are in the red zone. U.S. performance as measured against stronger economies is even weaker—in total, 32 nations outperformed the United States. The authors also delve into comparative reading scores. A mere 31 percent of U.S. students in the class of 2011 could perform at the ""proficient"" level as measured by the National Assessment of Educational Progress (NAEP) program, compared with South Korea's result of 47 percent. And while some observers may downplay the significance of cross-globe comparisons, they should note that Canadian students are dramatically outpacing their U.S. counterparts as well.Clearly something is wrong with this picture, and this book clearly explicates the costs of inaction. The time for incremental tweaking the system is long past—wider, deeper, and more courageous steps are needed, as this book amply demonstrates with accessible prose, supported with hard data that simply cannot be ignored.

Debt crises have placed strains not only on the European Union's nascent federal system but also on the federal system in the United States. Old confrontations over fiscal responsibility are being renewed, often in a more virulent form, in places as far flung as Detroit, Michigan, and Valencia, Spain, to say nothing of Greece and Cyprus. Increasing the complexity of the issue has been public sector collective bargaining, now a component of most federal systems.The attendant political controversies have become the debate of a generation. Paul Peterson and Daniel Nadler have assembled experts from both sides of the Atlantic to break down the structural flaws in federal systems of government that have led to economic and political turmoil. Proposed solutions offer ways to preserve and restore vibrant federal systems that meet the needs of communities struggling for survival in an increasingly unified global economy.Contributors: Andrew G. Biggs (American Enterprise Institute); César Colino (National Distance Education University, Madrid); Eloísa del Pino (Instituto de Políticas y Bienes Públicos, Madrid); Henrik Enderlein (Hertie School of Governance, Berlin); Cory Koedel (University of Missouri); Carlos Xabel Lastra-Anadón (Harvard University); Daniel Nadler (Harvard University); Shawn Ni (University of Missouri); Amy Nugent (Government of Ontario, Canada); James Pearce (Mowat Centre, University of Toronto, Canada); Paul E. Peterson (Harvard University); Michael Podgursky (University of Missouri); Jason Richwine (Washington, D.C.); Jonathan Rodden (Stanford Uni versity); Daniel Shoag (Harvard University); Richard Simeon (University of Toronto, Canada); Camillo von Müller (University of St. Gallen, Switzerland, and Leuphana University, Germany); Daniel Ziblatt (Harvard University)

Topics include:Part One: Voters and ElectionsThe New Two-Party SystemThe Economic Basis of Reagan's AppealIncumbency and Realignment in Congressional ElectionsCampaigning, Governing, and the Contemporary PresidencyThe Republican Advantage in Campaign FinanceThe Rise of National PartiesPart Two: Institutions and PolicyNew Patterns of Decisionmaking in CongressThe Politicized PresidencyFederalism and the Bias for CentralizationControlling EntitlementsSecurity PolicyThe New Politics of Deficits

Effective government requires that institutions be strong enough to control the efforts of organized, entrenched special interests in favor of the broader interests shared but poorly articulated by most members of society. Recent changes in our institutions and in the problems they face raise doubts about the capacity of contemporary American government to handle these parochial forces. Congress has seemingly become more fragmented, the presidency more politicized, and the bureaucracy more labyrinthine. After a decade or more of trying, our institutions have not mastered a variety of problems—the budget deficit, the trade imbalance, and energy insecurity—that threaten society's general interest in an economic future as bright as its past.Can the Government Govern? argues that the problem is inherently and substantially institutional and discusses the politically difficult requirements for overcoming it. In so doing, this volume opens the debate and public discussion necessary for change. Contributors include John E. Chubb writing on energy policy, David B. Yoffie on trade policy, Paul E. Peterson and Mark Rom on macroeconomic policy, Samuel Kernell on the presidency, Kenneth A. Shesple on Congress, and Terry M. Moe on the bureaucracy.

A comprehensive exploration of 21st Century school politics, Teachers versus the Public offers the first comparison of the education policy views of both teachers and the public as a whole, and reveals a deep, broad divide between the opinions held by citizens and those who teach in the public schools. Among the findings:• Divisions between teachers and the public are wider and deeper than differences between other groups often thought to contest school policy, such as Republicans and Democrats, the young and the old, the rich and the poor, or African Americans and whites.• The teacher-public gap is widest on such issues as merit pay, teacher tenure reform, impact of teacher unions, school vouchers, charter schools, and requirements to test students annually.• Public support for school vouchers for all students, charter schools, and parent trigger laws increases sharply when people are informed of the national ranking of student performance in their local school district.• Public willingness to give local schools high marks, its readiness to support higher spending levels, and its support for teacher unions all decline when the public learns the national ranking of their local schools.• On most issues, teacher opinion does not change in response to new information nearly as much as it does for the public as a whole. In fact, the gap between what teachers and the public think about school reform grows even wider when both teachers and the public are given more information about current school performance, current expenditure levels, and current teacher pay.The book provides the first experimental study of public and teacher opinion. Using a recently developed research strategy, the authors ask differently worded questions about the same topic to randomly chosen segments of representative groups of citizens. This approach allows them to identify the impact on public opinion of new information on issues such as student performance and school expenditures in each respondent's community.The changes in public opinion when citizens receive information about school performance are largest in districts that perform below the national average. Altogether, the results indicate that support for many school reforms would increase if common core state standards were established and implemented in such a way as to inform the public about the quality of their local schools. These and many other findings illuminate the distance between teacher opinions and those of the public at large.About the Research: In partnership with the Harvard Program on Education Policy and Governance and the journal, Education Next, authors Paul E. Peterson, Martin West and Michael Henderson surveyed nationally representative samples of teachers and the public as a whole annually between 2007 and 2013.

The voucher debate has been both intense and ideologically polarizing, in good part because so little is known about how voucher programs operate in practice. In The Education Gap, William Howell and Paul Peterson report new findings drawn from the most comprehensive study on vouchers conducted to date. Added to the paperback edition of this groundbreaking volume are the authors' insights into the latest school choice developments in American education, including new voucher initiatives, charter school expansion, and public-school choice under No Child Left Behind. The authors review the significance of state and federal court decisions as well as recent scholarly debates over choice impacts on student performance. In addition, the authors present new findings on which parents choose private schools and the consequences the decision has for their children's education. Updated and expanded, The Education Gap remains an indispensable source of original research on school vouchers. ""This is the most important book ever written on the subject of vouchers.""—John E. Brandl, dean, Hubert H. Humphrey Institute of Public Affairs, University of Minnesota ""The Education Gap will provide an important intellectual battleground for the debate over vouchers for years to come.""—Alan B. Krueger, Princeton University ""Must reading for anyone interested in the battle over vouchers in America.""—John Witte, University of Wisconsin

Many believe that the urban underclass in America is a large, rapidly increasing proportion of the population; that crime, teenage pregnancy, and high school dropout rates are escalating; and that welfare rolls are exploding. Yet none of these perceptions is accurate. Here, noted authorities, including William J. Wilson, attempt to separate the truth about poverty, social dislocation, and changes in American family life from the myths that have become part of contemporary folklore.

A Brookings Institution Press and Russell Sage Foundation publicationEducation is one of the largest sectors of the U.S. economy--yet scholars, educators, policymakers, and parents do not agree about what the money spent on education really buys. In particular, they do not agree on how much education improves children's ability to learn or whether the things children learn in school truly improve their chances for success as adults. If schooling increases how much students know and what they know does pay off later, then it is important to ask what schools can do to increase students' learning and earning.The essays in this book report estimates of the effects of learning on earnings and other life outcomes. They also examine whether particular aspects of schooling--such as the age at which children begin school, classroom size, and curriculum--or structural reform--such as national or statewide examinations or school choice--affect learning. Taken together, their findings suggest that liberals are correct in saying that more investment is needed in early education, that class sizes should be further reduced, and that challenging national or state standards should be established. But they also provide support for conservatives who ask for a more demanding curriculum and greater school choice.Contributors include John Bishop, Eric Hanushek, James Heckman, Christopher Jencks, Caroline Minter Hoxby, Fred Mosteller, and Christopher Winship.

While educators, parents and policymakers are still debating the pros and cons of school choice, it is now possible to learn from choice experiments in public, private, and charter schools across the country. This book examines the evidence from these early school choice programs and looks at the larger implications of choice and competition in education.Paul Peterson makes a strong case for school choice in central cities, and coeditor Bryan Hassel offers the case for charter schools. John E. Brandl offers his vision of school governance in the next century. The book's other contributors--economists, political scientists, and education specialists--provide case studies of the experience with voucher programs in Indianapolis, San Antonio, Cleveland, and Milwaukee; survey charter schools; analyze public school choice; discuss constitutional issues; and study the effects of private education on democratic values.Contributors include David J. Armor, George Mason University; Chester E. Finn Jr. and Bruno V. Manno, Hudson Institute; Caroline M. Hoxby, Harvard University; Brett M. Peiser, Partnerships in Learning; and Joseph P. Viteritti, New York University.

America's inner cities, particularly those in older industrial metropolitan areas, have declined sharply in both population and employment over the past two decades. How much of this change is due to technological advances in transportation, communication, and manufacturing? How much of it is due to the changing racial composition of the central cities? Can any set of public policies retard or reverse the decline of the industrial cities?This book presents an interdisciplinary collection of papers addressing these questions. In the introduction, editor Paul E. Peterson discusses the ways in which adverse economic and racial changes interact and urges more realistic federal policies to counteract these changes. In Part 1, ""The Processes of Urban Growth and Decline,"" sociologist John D. Kasarda analyzes the growing mismatch between inner-city jobs and residents, and geographer Brian J. L. Berry discusses the economics of inner-city gentrification. Racial change is the subject of Part II: sociologist Elijah Anderson depicts race relations in a gentrifying inner-city neighborhood; sociologist William J. Wilson delineates the social and economic problems of inner-city blacks; and political scientist Gary Orfield calls for bold efforts to reverse the continuing urban pattern of racial segregation. Part III looks at the way cities have responded to economic and racial change. Economist Kenneth A. Small discusses the impact of transportation policy; political scientist Herbert Jacob finds that increasing efforts to control urban crime have not been effective; and sociologist Terry Nichols Clark emphasizes the effect of political factors on the fiscal condition of cities. Economist Anthony Downs, reviewing the issues raised by the other authors, sees little hope for racial integration as the central social strategy for solving urban problems, but does see hope in the internal resources of America's minority communities.

Twenty years ago cooperative federalism, in the form of federal grant-in-aid programs administered by state and local governments, was applauded almost without reservation as the best means of helping the handicapped, the educationally disadvantaged, the poor, and other groups with special needs. More recently these same programs have been criticized for excessive regulations and red tape, bureaucratic ineptitude, and high cost. The criticisms have been used to justify efforts to curb federal domestic spending and terminate many grants-in-aid.In When Federalism Works, Paul E. Peterson, Barry G. Rabe, and Kenneth K. Wong examine the new conventional wisdom about federal grants. Through documentary research and hundreds of interviews with local, state, and federal administrators and elected officials, they consider the implementation and operation of federal programs for education, health care, and housing in four urban areas to learn which programs worked, when, and why. Why did rent subsidy programs encounter seemingly endless difficulties, while special education was a notable success? Why did compensatory education fare better in Milwaukee than in Baltimore? Among the factors the authors find significant are the extent to which a program is directed toward groups in need, the political and economic circumstances of the area in which it is implemented, and the degree of professionalism among those who administer it at all levels of government.When Federalism Works provides a solid introduction to the most important grant-in-aid programs of the past twenty years and a thoughtful assessment of where they might be going.

""The best way of handling the question of how much to give the poor, politicians have discovered, is to avoid doing anything about it at all,"" note Paul Peterson and Mark Rom. The issue of the minimum people need in order to live decently is so difficult that Congress has left this crucial question to the states—even though the federal government foots three-fourths of the bill for about 15 million Americans who receive cash and food stamp benefits.The states differ widely in their assessment of what a family needs to meet a reasonable standard of living, and the interstate differences in welfare benefits cannot be explained by variations in wage levels or costs of living. The states with higher welfare benefits act as magnets by attracting or retaining poor people. In the competition to avoid becoming welfare havens, states have cut welfare benefits in real dollars by more than one-third since 1970. The authors propose the establishment of a minimum federal welfare standard, which would both reduce the interstate variation in welfare benefits and stem their overall decline.Peterson and Rom develop their argument in four steps. First they show how the politics of welfare magnets works in a case study of policymaking in Wisconsin. Second, they present their analysis of the overall magnet effect in American state politics, finding evidence that states with high welfare benefits experiencing disproportionate growth in their poverty rates make deeper welfare cuts. Third, they describe the process by which the current system came into being, identifying the reform efforts and political crises that have contributed to the centralization of welfare policy as well as the regional, partisan, and group interests that have resisted these changes. Finally, the authors propose a practical step that can go a long way toward achieving a national welfare standard; then assess it's cost, benefits, and political feasibility.

What is the price of federalism? Does it result in governmental interconnections that are too complex? Does it create overlapping responsibilities? Does it perpetuate social inequalities? Does it stifle economic growth?To answer these questions, Paul Peterson sets forth two theories of federalism: functional and legislative. Functional theory is optimistic. It says that each level of the federal system is well designed to carry out the tasks for which it is mainly responsible. State and local governments assume responsibility for their area's physical and social development; the national government cares for the needy and reduces economic inequities. Legislative theory, in contrast, is pessimistic: it says that national political leaders, responding to electoral pressures, misuse their power. They shift unpopular burdens to lower levels of government while spending national dollars on popular government programs for which they can claim credit.Both theories are used to explain different aspects of American federalism. Legislative theory explains why federal grants have never been used to equalize public services. Elected officials cannot easily justify to their constituents a vote to shift funds away from the geographic area they represent. The overall direction that American federalism has taken in recent years is better explained by functional theory. As the costs of transportation and communication have declined, labor and capital have become increasingly mobile, placing states and localities in greater competition with one another. State and local governments are responding to these changes by overlooking the needs of the poor, focusing instead on economic development. As a further consequence, older, big cities of the Rust Belt, inefficient in their operations and burdened by social responsibilities, are losing jobs and population to the suburban communities that surround them.Peterson recommends that the national government adopt p