Heartland Blog

The Century Foundation Manufacturing a Better Paying Ohio Summit was held in Cleveland on March 12. The event was a huge success with an overflow sold-out crowd and keynote address from Senator Sherrod Brown. Heartland Capital Strategies (HCS) was a co-sponsor of the event, and Ted Chandler, COO of the AFL-CIO Housing Investment Trust (HIT) and a founding board member of Heartland, gave the closing address. As noted in the Cleveland Plain Dealer, "Manufacturing experts, advocates, political leaders, industry and labor partners came together at the Great Lakes Science Center to discuss a new report released today about the state of manufacturing in Ohio. Highlights of the half-day summit incl

CLEVELAND -- This week, President Donald Trump imposed tariffs on imported steel and aluminum in an effort to help U.S. manufacturers -- companies like ArcelorMittal in Cleveland -- that have long been hurt by deindustrialization and offshoring. The announcement has sparked a firestorm of debate, dividing workers, advocates, and economic experts across the political aisle, and even manufacturers themselves. What this debate is really about, though, is not tariffs, but jobs, and whether preserving (and growing) manufacturing jobs is a lost cause or a goal within reach. We see evidence that it is an attainable goal. With the right choices by government -- choices that include, but are not limi

“No doubt this attack on democracy reflected the rise of a wealthy minority…which called itself the Oligarchical Party, and denounced democracy as an incompetent sham.” This passage, from back in the day, might have been a tongue-in-cheek quote from Mark Twain about the raw, wild west violence of the robber barons of the Gilded Age, or maybe by Thorsten Veblen, the author who wrote The Theory of the Leisure Class and coined the term “conspicuous consumption,” about the rigged greed of the Roaring ‘20s. Wrong. It was actually a quote from a book by philosopher Will Durant, who was writing about the counter-attack on the democracy at the time, several hundred years BC, in Athens, during the

Across the globe, governments see investment in infrastructure as a major priority, not least as part of the shift to a low-carbon economy. At the same time, public finance levels have deteriorated as debt to GDP ratios have increased. In these circumstances, one of the best options for public financing of public infrastructure remains borrowings and loans, either by way of regular bonds or specially created infrastructure bonds. The latter are considered attractive because they can be tailored to specifically fit the needs of the parties, i.e. the lender and borrower. There will be circumstances where government loans and borrowings are not available and governments will seek partnerships w

Michael G. Psaros, treasurer of the Greek Orthodox Archdiocese of North America, and co-founder of KPS Capital Partners, LP was honored March 1 at the 18th Annual Wall Street Alliance Scholarship Dinner. Each year, the dinner brings together the Georgetown University business community to honor colleagues that have made a significant mark professionally and in service to their community. The dinner also raises money to provide scholarship assistance to undergraduates of the university. Psaros received a B.S.B.A in Finance from Georgetown University and currently serves on the Board of Directors of Georgetown. He is also vice chairman of the Executive Board of Advisors of Georgetown Universit

Ron Blackwell, a friend to EPI since its early days, died on February 25. Ron had a long career in the labor movement, starting with the Amalgamated Clothing and Textile Workers Union in New York, moving to the AFL-CIO in Washington, D.C. until he retired in 2012. Raised in Alabama, he was a steadfast defender of the rights of working people and a life-long enemy of economic injustice in its many forms. He pioneered in the design and management of campaigns to use the financial and pension assets of labor unions as a tool of organizing and collective bargaining. Having studied economics and political economy at the New School, he understood how elite decisions hidden from the public can dest