Daily Must Reads for the week of January 2

Suggested reading for the week of January 2.

Must Reads for January 6

Crain’s Chicago Business: Cost of teacher pensions swamping classroom needs, report says

The Institute’s Pensions vs. schools report series was feature in Crain’s.  

Reason.com: Chicago crosses the line in trying to maintain property values

Banks that comply with Chicago’s new law may be liable for burglary, trespassing, or similar crimes.

Forbes: Crony capitalism? Blame the progressives

The meat and potatoes activities of crony capitalism are corruptions rather than features of free markets. Where state power to intervene in economic activity does not exist, neither does cronyism.

Must Reads for January 5

The Washington Examiner: Manhattan moment – Democrat Raimondo’s Rhode Island reforms are remarkable

Raimondo put forward a plan that would get the state’s pension costs under control and reduce the risk that further funding gaps would appear in the future.

The State Journal-Register: Quinn signs pension reform into law

Quinn closes door on extreme pension abuse, pensions remain grossly underfunded.

Harvard Business Review: Volunteerism drops as governments raise social spending

An increase in governmental spending on social benefits by 1 percentage point of GDP decreases an individual’s likelihood of volunteering for religious, sports, arts, or any other kind of organization by about 2 percentage points.

Must Reads for January 4

The State Journal-Register: Governor makes gloomy forecast for Illinois budget

Most state operations should expect a 9 percent reduction in the next budget, Quinn warned, and “further and larger reductions are needed to stabilize Medicaid costs.”

Forbes: The southern U.S. states experiencing an economic renaissance

Illinois, which recently increased taxes, on net, lost someone to another state every ten minutes between 1995 and 2009. More went to no income tax Texas than anywhere else. By earnings, the greatest beneficiary of Illinoisans’ out-migration was Florida.

The Daily Herald: Schools must live within their means

The fact that school executives and board members (not all board members) found it advisable to ply the Illinois financial formula for the sake of “get what you can while you can” suggests the need for a report card on their school activities.

The Wall Street Journal: Why public pensions are so rich

Shifting government workers to 401(k)-style plans would offer greater transparency and keep benefits in line with the private economy.

Must Reads for January 3

The Daily Herald: The pension reform roar from Rhode Island

Could tiny Rhode Island serve as the proverbial mouse that roars? Will suburban Democrats, and all Illinois Democrats, hear that roar?

The Wall Street Journal: The rise of consumption equality

Getting rich requires serving a mass market, which means the rest of us can buy what the rich buy.

The State Journal-Register: Medicaid payment backlog cripples supportive living centers

Medicaid payment delays of up to six months are causing fits for supportive living centers throughout Illinois, and some owners are worried they may have to close if the situation doesn’t improve soon.