I often mention Tom Blumer, who writes at BizzyBlog, for his writing on economics and accounting issues. One of his recent posts is a must-read for this area.
Kelo, GM, and the Stimulus: Three Big Government-Induced Failures details three examples that, as Tom puts it, "clearly demonstrate that government should be the last place people look to for solutions to economic problems."
He also asks the age-old question: if the lessons are so clear, why do people keep doing things that don't work?
Hmmm...sounds like he could have used Toledo/Lucas County as examples as well.
I hope you'll read the entire article - and maybe add BizzyBlog to your daily reading as well.