Is local growth a Ponzi Scheme?
An article posted on Revisioning Point discusses Marohn’s description of community growth as a Ponzi Scheme. The article starts with “Many local government leaders portray new development as the lifeblood necessary to maintain or improve the economic and fiscal health of a community. They argue that the proposed new subdivision, apartment complex, or shopping mall out on the edge of town is not only desirable, but is practically a requirement if the entire community is to stay alive. Chuck Marohn sees things differently. He argues that most new development is instead part of a Ponzi scheme. . .”