Private Cash Sets Agenda for Urban Infrastructure

As part of a continuing series examining the effects of the growing concentration of wealth, the New York Times reported Monday on the situation in New Haven, Connecticut. Read More...

"In the case of New Haven, once the recipient of more federal dollars per person for urban renewal than any other city, private investment now far surpasses public outlays."

"Philanthropic spending adds mainly to the nation’s stock of hospitals, libraries, museums, parks, university buildings, theaters and concert halls. Public infrastructure — highways, bridges, rail systems, water works, public schools, port facilities, sewers, airports, energy grids, tunnels, dams and levees — depends mostly on tax dollars. It is hugely expensive and the money available, while still substantial, has shrunk as a share of the national economy."

To read the full article, click here.