Economics

Forget the Urban Stereotypes: What Millennial America Really Looks Like

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Perhaps no generation has been more spoken for than millennials. In the mainstream press, they are almost universally portrayed as aspiring urbanistas, waiting to move into the nation’s dense and expensive core cities.

Yet like so many stereotypes — often created by wishful thinking — this one is generally exaggerated and even essentially wrong. We now have a solid 15 years of data on the growth of young people ages 20-34, from 2000 to 2015, which covers millennials over the time they entered college, got their first jobs and, in some cases, started families.  read more »

Postcards From the Zombie Apocalypse

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I’m regularly accused of being a doomer whenever I point out the obvious – that many aspects of how we’ve organized our affairs over the last several decades aren’t meant to last. So they won’t. The end of Jiffy Lube and Lean Cuisine isn’t The End. Civilization will carry on without them, I assure you. But when it’s suggested that our current set of arrangements won’t last forever people immediately imagine Mad Max, as if no other alternative exists. Things are going to change. They always have and they always will.  read more »

Ontario’s Labor & Housing Policies: US Midwest Opportunities?

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The Globe and Mail, a Canadian national newspaper, reports concerns raised by Magna International, Inc. that proposed provincial labor legislation (the “Fair Workplaces Better Jobs Act”) could result in seriously reduced economic competitiveness for Ontario, Canada’s most populous province (“Magna says new Ontario labour bill threatens jobs, investment”).  read more »

Capitalism Did Not Win the Cold War

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When the Soviet Union collapsed 26 years ago, it was generally agreed that the West had won the Cold War. This was affirmed by the prosperity and possibilities awaiting citizens of Western countries, as opposed to the political and economic stagnation experienced by those in Communist states.  read more »

Subjects:

Deep Ellum

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I recently wrote about the need to embrace reality when it comes to land use regulation, culture, politics, and economics. My interpretation can seem a bit… dark. It’s not my intention to discourage people looking to make a positive difference in their communities. I’ve just seen how things tend to play out and the process doesn’t exactly favor mom and pop operations that are juggling day jobs, raising kids, and working on limited budgets.  read more »

Diners and the Decline of Shared Social Institutions

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Grub Street posted another installment in the decline of the New York diner genre.

I’ve made the point before that many of these old line institutions are going out of business because their product simply isn’t very good. I’m a fan of diner food, but I’ve never had a good meal in a Manhattan diner.  read more »

High-Flying California Charts Its Own Path -- Is A Cliff Ahead?

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As its economy bounced back from the Great Recession, California emerged as a progressive role model, with New York Times columnist Paul Krugman arguing that the state’s “success” was proof of the superiority of a high tax, high regulation economy.  read more »

Red State Conundrum

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How do you raise incomes when your state’s economic appeal is based on low costs?

That’s the basic conundrum facing a number of red states. They rightly talk about their cost climate, touting tax rates and such. But the biggest component of cost for many businesses is labor. Being a low cost state is tantamount to being a low wage one in many cases.  read more »

Subjects:

Is California Anti-Family?

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In its race against rapidly aging Europe and East Asia, America’s relatively vibrant nurseries have provided some welcome demographic dynamism. Yet, in recent years, notably since the Great Recession and the weak recovery that followed, America’s birthrate has continued to drop, and is now at a record low.  read more »

Can California Survive a Tech Bust?

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California’s economic revival has sparked widespread notions, shared by Jerry Brown and observers elsewhere, that its economy — and policy agenda — should be adopted by the rest of the country. And, to be sure, the Golden State has made a strong recovery in the last five years, but this may prove to be far more vulnerable than its boosters imagine.  read more »