Taxes And Economic Growth In Michigan

In the 1950s and 1960s Michigan was one of the world's economic power-houses. Over the last several decades, however, manufacturing has claimed an ever-smaller share of the U.S. economy, and Michigan, with its heavy emphasis on manufacturing, has steadily lost ground. In this thought-provoking book, Charles L. Ballard provides a detailed analysis of Michigan's current economic situation, and points the way to a brighter future. Although manufacturing will continue to play an important role for years to come, the economic conditions of the mid twentieth century have changed, and the brightest prospects for the future are in the high-skill, high-technology sectors of the economy. Thus, education is the key to success in tomorrow's economy. Michigan's foremost challenge is to provide the highly educated, highly skilled workforce that the future economy will demand. This is a daunting challenge, since the educational attainment of Michigan's population lags behind the national average. Ballard demonstrates that a single-minded focus on cutting taxes and public services will not take Michigan where it needs to go. The level of taxation in Michigan is far lower than it once was, and Michigan's archaic tax system is increasingly unable to provide enough resources to make necessary investments for the future. Education policy and public finances take center stage in Michigan's Economic Future, but Ballard also explores other critical policy issues such as transportation, land use, environment, corrections, health care, and anti-poverty programs. Michigan's Economic Future is essential for anyone interested in economic policy for the Great Lakes State.

This accessible, engaging text examines the impact of the trends that have shaped Michigan’s economy, and offers innovative solutions to the current economic crisis. Charles Ballard’s illuminating book explores the structure of Michigan’s economy, including its roots in agriculture, the rise and fall of the automotive industry, and the long-term decline of manufacturing. Ballard proposes that investing in education to create a highly skilled workforce can help Michigan’s people to compete in the rapidly evolving global economy. Discussing the state’s transportation infrastructure, environment, public expenditures, and tax system, Ballard describes how changes in attitudes, policies, and political institutions will help to promote economic recovery and growth.