The fundamental problem facing poor communities in America is poor governance and not a lack of resources.
Mark A. Calabria is director of financial regulation studies at the Cato Institute. Before joining Cato in 2009, he spent seven years as a member of the senior professional staff of the U.S. Senate Committee on Banking, Housing and Urban Affairs. Prior to his service on Capitol Hill, Calabria served as Deputy Assistant Secretary for Regulatory Affairs at the U.S. Department of Housing and Urban Development, and also held a variety of positions at Harvard University’s Joint Center for Housing Studies, the National Association of Home Builders’ and the National Association of Realtors. Calabria has also been a research associate with the U.S. Census Bureau’s Center for Economic Studies. He holds a doctorate in economics from George Mason University.