
Michael Hecht
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Jun 17, 2026
DT #654 Rebuilding Better: How New Orleans Turned Disaster Into Long-Term Economic Growth
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Dennis FrazeeHOST
But how are you guys ensuring that they actually create long-term value? It sounds like you've done a great job of that, but I think that's always a concern, right? You kind of front load a project and then you just kind of hope that it's going to work out the way everybody says it is.

Michael HechtGUEST
Yeah, I mean, look, there are some traditional ways to do that, like having clawbacks.

Michael HechtGUEST
But I think as a general rule and for anybody who's a practitioner who's watching this, one, definitely incentives should be pay for performance.

Michael HechtGUEST
You can apply for it on a quarterly basis, but you have to show the receipts literally.

Dennis FrazeeHOST
upscale people? Are you able to attract new workers? I mean, just talk to me a little bit about that whole process, because that's the lifeblood of every community.
The Power of Powerlessness with Michael Hecht
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6:02Dane CarlsonHOST
And, and- I mean, is that why as a whole, like, the US hasn't done big stuff, you know, in a, in a long time?

Michael HechtGUEST
Yeah, I mean, Dane, there are a bunch of reasons why we haven't done big stuff, and they're all systems issues.

Michael HechtGUEST
So to name a few, one is coming out of the moment of Robert Moses, when he left the stage, I think in the '70s, we put in all kinds of legislation to make sure we can never have another Robert Moses.

Michael HechtGUEST
We overcompensated, and now we've kinda given project vetoes to very small special interest groups.

Michael HechtGUEST
In a duopoly, you never want to help the other side get something done because they'll take all the credit, and so it's very difficult to cooperate.
13 MINS LATER