Economics

Education and Economic Growth

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It is an article of faith among California’s political class that insufficient higher educational opportunities are a constraint on California’s economic and job growth.  Just about every California economic development document includes a discussion of California’s desperate need for more college graduates.  read more »

MENA Economies: Trouble Ahead

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The economies of the Middle East and North Africa (MENA) are ill prepared for the coming population boom.

War, terrorism, repression and poverty are all common features in much of today’s Middle East and North Africa (MENA). How are the region’s demographics changing in the next few decades? And what is the prognosis for improved living conditions?  read more »

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Demographics and Commodities Crash Slowing Growth of Poorer Countries

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Changing demographics and the commodities crash have slowed down the development of poorer countries.

Perhaps it all started with a turn in China’s demographics. Demand growth for commodities has declined sharply from recent years and has resulted in a crash of global prices. Copper is down 54% from its post 2008 peak and down 25% this year alone. Crude oil is down 67% and 39% in the same time spans. In addition to softer demand, prices were negatively impacted by jumps in supply, most notably from shale energy producers in the United States.  read more »

Chicago Is Winning the Battle for the Executive Headquarters

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The corporate headquarters used to be the primary measure of a city’s economic clout. Saskia Sassen, while not ignoring headquarters, documented how in the age of globalization, the resurgence of the global city was driven by demand for financial and producer services, not more and bigger HQs.  read more »

Serfs Up with California's New Feudalism

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Is California the most conservative state?

Now that I have your attention, just how would California qualify as a beacon of conservatism? It depends how you define the term.  read more »

The Politics Of The Next Recession: How A Bust Could Impact The 2016 Elections

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In this hyper-political age, perceptions about virtually everything from the weather to the Academy Awards are shaped by ideology. No surprise then that views on the economy and its trajectory also divide to a certain extent along partisan lines.

How the public perceives the economy will have a major impact on this year’s elections. That most are already discouraged cannot be denied;  the negative sentiment has propelled the rise of such seemingly marginal political figures as Donald Trump and Bernie Sanders. But will the economy prove a bother to the Democrats?  read more »

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Cleveland Renaissance Fair

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So much talk of the Cleveland comeback with our downtown building boom and Republican National Convention-fueled makeover makes it difficult not to think about our mid-1990s civic renaissance. In 1995, The New York Times headline proclaimed " 'Mistake by the Lake' Wakes Up, Roaring" as downtown's stadiums and lakefront development created a "new face and new style of a city that for a long time had little panache."

But it wasn't just the media who became enchanted with our freshly minted charms — even the scholars were feeling it. The academics, however, had a Lake Erie-sized caveat. There was a divide in the region's comeback, noted the authors of the 1997 study "The Rise and Fall and Rise of Cleveland," with areas separated by characteristics of "capital investment and disinvestment, industrialization and deindustrialization, suburbanization and ghettoization, white flight and a black underclass, the growth of services, and a [high-skill and low-skill] dual economy."  read more »

In Southern California, It Takes an Assortment of Villages

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Among urban historians, Southern California has often had a poor reputation, perennially seen as “anti-cities” or “19 suburbs in search of a metropolis.” The great urban thinker Jane Jacobs wrote off our region as “a vast blind-eyed reservation.”

The Pavlovian response from many local planners, developers and politicians is to respond to this criticism by trying to repeal our own geography. Los Angeles’ leaders, for example, see themselves as creating the new sunbelt role model, built around huge investments Downtown and in an expensive, albeit underused, subway and light-rail network.  read more »

Why High Taxes Aren’t the Only Reason GE Left Connecticut

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General Electric, unhappy with a recent corporate tax increase in Connecticut, has now announced that it is relocating to Boston’s south waterfront. Indeed Connecticut’s tax climate is bad, ranking 44th according to the Tax Foundation, but GE’s move points to much bigger problems in the state.  I examine this in my new piece over at City Journal. Here’s an excerpt:  read more »

Is California’s Economy Swell?

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Every now and then, something happens to cause California’s comfortable establishment to celebrate the state’s economy.  Recent budget surpluses and jobs data have provided several opportunities, never mind that these are hardly summary statistics.  They don’t tell the complete story.  read more »