Sifting though the postmortem news of Borders Group’s demise, I came across a local newspaper story about a California town that had spent $1.6 million to lure a Borders bookstore to a local shopping center.
Handing out multimillion-dollar subsidies to large chains has become
commonplace in much of the country. But when governments use public money to woo national chains, economic
growth and job creation are negligible, and independent retailers
suffer, Stacy Mitchell argues in this commentary for Business Week.
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