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Only the Rich Can Play
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Only the Rich Can Play

How Washington Works in the New Gilded Age

David Wessel
Public Affairs, 2021

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Editorial Rating

8

Qualities

  • Analytical
  • Well Structured
  • Engaging

Recommendation

Pulitzer Prize–winning economics journalist David Wessel brings decades of experience as a Washington reporter to bear on this absorbing account of policy and profit-making in America. Opportunity Zones began as an idealistic effort to put capitalism to work for impoverished communities; not surprisingly, their laudable purpose got lost along the way. In describing the story of Opportunity Zones, from their genesis in a billionaire’s brain to their failure on the ground, Wessel’s writing shines. His inside baseball look at how lawmakers and lobbyists introduce and pass legislation in Washington – including the maneuvering and horse-trading along the way – makes for a fascinating read. 

Take-Aways

  • Opportunity Zones (OZs) offer investors a way to avoid capital gains taxes and, in theory, simultaneously benefit underprivileged communities.
  • Opportunity Zones first formed in the mind of billionaire Sean Parker.
  • Parker assembled a rich and powerful team to push Opportunity Zone legislation.

About the Author

Pulitzer Prize–winning economics journalist David Wessel wrote for The Wall Street Journal for 30 years. He now serves the Brookings Institution as a senior fellow and director of the Hutchins Center on Fiscal and Monetary Policy. 

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