Economics

Most regions were beginning to see an acceleration in economic growth during January and February 2020. The 20-state Heartland was poised to see a notable improvement in economic performance that will now be tested due to public health measures implemented to contain the spread of the coronavirus. The additional $200 billion in purchases of grain, industrial supplies and manufactured products over the next two years that China agreed to in the Phase I trade deal will benefit the Heartland greater than any other region of the nation.  read more »

In “Millennials Find New Hope In The Heartland,” Heartland Forward Senior Fellow Joel Kotkin and his contributors address a fundamental topic for future economic success in the Heartland: Will Millennials return and remain at higher rates?  read more »

My latest report is now available from the American Enterprise Institute. It’s a look at the role of the culture of cities in economic dynamism and resiliency. I examine a few case studies, and from these try to draw out some cultural traits that seem to be relevant to success, notably an open social structure, invested leadership and institution building by civic elites, and a high value placed on education.

Here is an excerpt:  read more »

A couple of weeks after the South Korean film Parasite won both Best Foreign Film and Best Picture, Donald Trump went on what the Washington Post called a “nationalistic cultural” rant about the film’s awards. He was upset that a movie made in Asia, in Korean, was named the best film in the U.S.  read more »

Politicians across the Western world like to speak fondly of the “middle class” as if it is one large constituency with common interests and aspirations. But, as Karl Marx observed, the middle class has always been divided by sources of wealth and worldview. Today, it is split into two distinct, and often opposing, middle classes.  read more »

Adam Smith, the philosophical father of modern capitalism, may have been Scottish, but his ideas have long found their muse in America. Smith’s “voice has been ringing in the world’s ears for sixty years”, wrote one observer in 1838, “but it is only in the United States that he is listened to, reverenced, and followed.”  read more »

In a year when two boosters of the “luxury city,” Donald Trump and Michael Bloomberg, are vying to run the whole country, the very model that created their “success” is slowly unraveling. After roughly 20 years of big-city progress, measured by economic growth and demographic progress, the dense urban centers, including New York, are again teetering on the brink of decline.  read more »

Race, gender and class may be shaping our society, but increasingly generational change drives our politics.

Over time this suggests a major realignment of America’s party system that could create either whole new parties or transform the current, and failing, political duopoly.

One must look just at the results in New Hampshire. Bernie Sanders won by winning roughly half of voters under 30, according to exit polls, almost twice the percentage he gained among the rest of the electorate.  read more »

A decade ago, in the wake of the Great Recession, Lee County, Florida was dubbed “the foreclosure capital of the country” by the national media, the poster child for all that had gone wrong with the American economy.  read more »

The political and cultural war between red and blue America may not be settled in our lifetimes, but it’s clear which side is gaining ground in economic and demographic terms. In everything from new jobs—including new technology employment—fertility rates, population growth, and migration, it’s the red states that increasingly hold the advantage.  read more »