Economics

In this era of anti-Trump resistance, many progressives see California as a model of enlightenment. The Golden State’s post-2010 recovery has won plaudits in the progressive press from the New York Times’s Paul Krugman, among others. Yet if one looks at the effects of the state’s policies on key Democratic constituencies— millennials, minorities, and the poor—the picture is dismal. A recent United Way study found that close to one-third of state residents can barely pay their bills, largely due to housing costs. When adjusted for these costs, California leads all states—even historically poor Mississippi—in the percentage of its people living in poverty.  read more »

America is a price dominant culture, and we need to take responsibility for that when we complain about bad customer service, poor infrastructure, etc. Certainly American business and political leadership could be better, but they aren’t the ones who decided to shop at Wal-Mart instead of the local store (favoring short term financial gain over long term community loss). Nor are they the ones who force us to vote for politicians promising something for nothing.  read more »

Upton Sinclair’s 1906 novel The Jungle was intended to inform the larger American public of the miserable working environment and sub survival wages of Chicago’s meat packing employees. The popular response was huge and lead to new government agencies and protections, but not the kind Sinclair had hoped for. By describing the dangerous and unhealthy conditions in slaughterhouses he meant to elicit sympathy for the workers who were denied adequate pay and were routinely maimed or killed on the job with no recourse to improved safety, medical care, or compensation.  read more »

Democratic “blue” state attitudes may dominate the national media, but they can’t yet tell people where to live. Despite all the hype about a massive “back to the city” movement and the supposed superiority of ultra-expensive liberal regions, people are increasingly moving to red states and regions, as well as to suburbs and exurbs.  read more »

Given its iconic hold on the American imagination, the idea that more Americans are leaving California than coming breaches our own sense of uniqueness and promise. Yet, even as the economy has recovered, notably in the Bay Area and in pockets along the coast, the latest U.S. Census Bureau estimates show that domestic migrants continue to leave the state more rapidly than they enter it.  read more »

According to property analysts CoreLogic, the Sydney median vacant land selling price has hit $450,000, a massive 20.5 per cent higher than the same time last year.  read more »

John Kenneth Galbraith once said that the beginnings of wisdom were to never trust an economist. Those of us that spent most of our adult lives in deindustrialized communities understood his point.  read more »

The real division in American politics today is no longer right or left, but rather between populism and an increasingly dominant corporate ruling class. This division is obvious within the Trump administration, elected on a nationalist and populist program but increasingly tilting toward a more corporatist orientation.  read more »

If you've been reading my stuff here long enough, you probably know that cringe when I hear people talk about Chicago's South Side as a monolith, as code for black and poor.  The truth is, there are many facets to the South Side.  It is largely black, but not exclusively so; it is less wealthy than other parts of the city and region, but with pockets of wealth also.  It has its very troubled spots, but it has places of promise.  read more »

California may never secede, or divide into different states, but it has effectively split into entities that could not be more different. On one side is the much-celebrated, post-industrial, coastal California, beneficiary of both the Tech Boom 2.0 and a relentlessly inflating property market. The other California, located in the state’s interior, is still tied to basic industries like homebuilding, manufacturing, energy and agriculture. It is populated largely by working- and middle-class people who, overall, earn roughly half that of those on the coast.  read more »