Economy
Great Moments in the History of Boondoggles
Three of the most embarrassing wastes of city taxpayer money ever recorded.
Developers have wielded considerable power in the city halls of the world since the invention of the mayor’s race. But by the latter part of the 20th century, the increased mobility of big business and its nearly constant (not to mention credible) threat to relocate had afforded corporations unprecedented might before evermore enfeebled municipal governments. Mega-projects like stadiums, festival marketplaces, or amusement parks have all begun to demand public funds as a matter of course.
If a city is lucky, these projects are successful in retaining or attracting jobs. But often enough they leave nothing behind save for an empty building and a heavy public financial obligation.