Economics

The California High Speed Rail Authority has released its 2018 Business Plan. It portends to finally reveal the true cost for construction of Phase I of the project. The new cost estimate is at a base of $77.3 billion to a possible $98.1 billion dollars. Completion of Phase I is now projected for year 2032. Please remember the old promise to the voters was the project would be running by 2020 and the cost to California voters would be $10 billion (the rest of the $32 billions needed to build Phase I would come from Federal and private sources).  read more »

California’s housing crisis has emboldened grandstanding Sacramento politicians who measure their own “success” by the number of bills they can pass with their own names attached.

We now have Scott Wiener’s SB827, a bill which would use “mass transit” (defined as four buses an hour during rush hour) to eliminate local governments’ ability to zone single-family housing and to replace locally crafted General Plans with increased density levels dictated by Sacramento politicians.  read more »

The most recent Census population estimates revealed something that the mainstream media would prefer to ignore—the slowing population growth of big cities, including New York. The New York Times, for example, trumpeted Gotham’s historically high population yet failed to mention that the city’s growth is not only dramatically slowing but also, in the case of Brooklyn, declining for the first time since 2006.  read more »

For much of the past century, Southern California has been driven by ever increasing population growth. That area has now ended as the region’s demographics stagnate, a trend that, according to the latest Census numbers, is, if anything, accelerating.  read more »

Richard Florida has a new piece over at City Lab analyzing recent data on venture capital from Pitchbook. The conclusion is that venture capital funding is hyper-concentrated, and getting even more so:  read more »

The suburban house is the idealization of the immigrant’s dream—the vassal’s dream of his own castle. Europeans who come here are delighted by our suburbs. Not to live in an apartment! It is a universal aspiration to own your own home. —Los Angeles urbanist Edgardo Contini  read more »

How can Orange County become a better place to live for all of its residents? Joel Kotkin and Marshall Toplansky explore the challenges and solutions in Orange County Focus: Forging Our Common Future, a research brief from Chapman University's Center for Demographics and Policy. Read an excerpt from the report below:  read more »

The Bureau of Labor Statistics recently released their final 2017 metro area job numbers. It was a pretty good year for job growth in a lot of major metros. Here’s how they fared, ranked by percentage job growth. Job totals are in thousands.  read more »

Whatever his grievous shortcomings, President Trump has succeeded in one thing: smashing the once imposing edifice of neoliberalism. His presidency rejects the neoliberal globalist perspective on trade, immigration and foreign relations, including a penchant for military intervention, that has dominated both parties’ political establishments for well over two decades.  read more »

If you’ve been reading this blog for any length of time, you’ll know that I don’t believe brain drain is the problem it’s been made out as. Often talent export can actually itself be a form of economic development.

A recent New Yorker profile of the Silicon Valley firm Glassdoor, which allows employees to post reviews of their employer, made this point implicitly in passing. Robert Hohman, the CEO of Glassdoor, is from Akron.  read more »