Economics

Some people don't like the term "Rust Belt". Others absolutely hate the word "chic". Please don't call the shifting mesofacts of dying Great Lakes cities "Rust Belt Chic". Given the reaction, a lot of it negative, I decided to blog about how I came up with Rust Belt Chic. Way back in 2006, Shittsburgh was associated with a kind of urban chic. The South Side Slopes celebrated in the New York Times:  read more »

Last month the BLS put out the first official release of annual job data for metropolitan areas, so I wanted to take a brief look at this for large metro areas (more than one million in population, based on old metro area definitions that the BLS still uses). Here are the top 10 cities for percentage job growth. Nashville takes the crown. I’m also personally glad to see Indy bounce back after a couple tough years.  read more »

The recent announcement that Jerry Brown is studying "fracking" in California, suggests that our governor may be waking up to the long-term reality facing our state. It demonstrates that, despite the almost embarrassing praise from East Coast media about his energy and green policies, Brown likely knows full well that the state's current course, to use the most overused term, is simply not politically and economically sustainable.  read more »

Nanjing is one of China's most historic cities. It is one of the four great ancient capitals of the nation, along with Beijing, Chang'an (Xi'an) and Luoyang. Its name means southern capital (Nan=south, Jing=capital), while the name of the current capital, Beijing means Northern capital.  read more »

Suburban areas in the US metropolitan areas with more than 1 million total regional population, once largely seen as bedroom communities, are nearing parity between jobs and resident employees. The jobs housing balance, which measures the number of jobs per resident employee in a geographical area has reached 0.89 (jobs per resident workers) in these 51 major metropolitan areas, according to data in the 2011 one-year American Community Survey.  read more »

Conservatives often fret that Barack Obama is leading the nation toward socialism. In my mind, that's an insult to socialism, which, in theory, at least, seeks to uplift the lower classes through greater prosperity. In contrast, the current administration and its core of wealthy supporters are more reminiscent of British Tories, the longtime defenders of hereditary privilege, a hierarchical social order and slow-paced economic change.  read more »

Known for her spiky hair, studded-collar and heels, Sydney’s Lord Mayor is the epitome of progressive chic. For a green activist, though, Clover Moore attracts some surprising company. Landlords owning 58 per cent of the CBD’s office space have rushed to join her Better Buildings Partnership, an alliance “to improve the sustainability performance of existing commercial and public sector buildings”.  read more »

With the stock market hitting new highs, and unemployment easing, albeit slightly, President Obama can now seize his moment. After spending four years blaming George W. Bush for his lousy hand, the president now sits at the table with three strong aces among his cards.

The key question is: Will he play them?

One reason he might not is that most of his good hand stems primarily not from his stewardship but America's economic and demographic kismet. In fact, this resurgence is primarily not taking the "green," urban and high-tech form, as preferred by most coastal Democrats, but stems largely from the productive forces being unleashed in the nation's largely red heartland.  read more »

Because so many chief executives of failed or mediocre companies have walked away with millions in bonuses and swag bags, both Switzerland and the European Union recently voted to put a cap on corporate bonuses, limiting them to a small multiple of base salary. What prompted the acceptance of the “Minder Initiative”—named after the independent parliamentarian who sponsored the referendum — is a string of stunning business losses that had no affect on the bonuses paid to the sitting executives.  read more »

Marissa Mayer’s pronunciamento banning home-based work at Yahoo reflects a great dilemma facing companies and our country over the coming decade. Forget for a minute the amazing hubris of a rich, glamorous CEO, with a nursery specially built next to her office, ordering less well-compensated parents to trudge back to the office, leaving their less important offspring in daycare or in the hands of nannies.  read more »