Economics

Young Tech Tycoons Pushing Left Coast Ahead Of East In Democratic Power Structure

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There are two deep-blue regions that are critical to the Obama administration: the Northeast and the coastal region between San Jose and Seattle that truly deserves the moniker of the Left Coast. They dominate the Democratic donor list, and provide the administration with most of its appointees and much of its ideological moorings.  read more »

Entrepreneurs Turn Oligarchs

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For a generation, most Americans, whatever their politics, have largely admired Silicon Valley as an exemplar of enlightened free-market capitalism. Yet, increasingly, the one-time folk heroes are beginning to appear more like a digital version of President George W. Bush's “axis of evil.” In terms of threats to freedom and privacy, we now may have more to fear from techies in Palo Alto than the infinitely less-competent retro-Reds in North Korea.  read more »

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In the Spotlight: Higher Ed Degree Output by Field and Metro

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It might stem from the dot-com crash, the increased popularity of certifications and onsite employer training, or various other reasons. Regardless, the key finding from EMSI and CareerBuilder’s analysis of higher education degree output over the last decade is still eye-opening: Computer and IT degrees completed in the U.S. have declined 11% since 2003.  read more »

E-Shopping Bubbling While Retail Bums Along

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We recently explored the post-recession tsunami of online retail and discovered that e-shopping’s future is anything if not bright. According to a report by Forrester Research, by 2016, not only are 192 million U.S. consumers projected to be be clicking “checkout” (up 15% since 2012), but those 192 million will also be spending an average of 44% more.  read more »

America's Engineering Hubs: The Cities With The Greatest Capacity For Innovation

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America has always been a nation of tinkerers. Our Founding Fathers, notes author Alec Foege, were innovators in areas ranging from agriculture (George Washington, Thomas Jefferson) and electricity (Benjamin Franklin) to the swivel chair (Jefferson).  read more »

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Aspirational Cities: U.S. Cities That Offer Both Jobs and Culture Are Mostly Southern and Modest Sized

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A city at its best, wrote the philosopher René Descartes, provides “an inventory of the possible.” The city Descartes had in mind was 17th-century Amsterdam, which for him epitomized those cities where people go to change their circumstances and improve their lives. But such aspirational cities have existed throughout American history as well, starting with Boston in the 17th century, Philadelphia in the 18th, New York in the 19th, Chicago in the early 20th, Detroit in the 1920s and 1930s, followed by midcentury Los Angeles, and San Jose in the 1980s.  read more »

Should Uncle Sam Chase a Scandinavian Model?

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When American progressives dream their future vision of America, no place entices them more than the sparsely populated countries of Scandinavia. After all, here are countries that remain strongly democratic and successfully capitalist, yet appear to have done so despite enormously pervasive welfare systems.  read more »

America's Emerging Housing Crisis

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The current housing recovery may be like manna to homeowners, but it may do little to ease a growing shortage of affordable residences, and could even make it worse. After a recession-generated drought, household formation is on the rise, notes a recent study by the Harvard Joint Center on Housing Studies, and in many markets there isn’t an adequate supply of housing for the working and middle classes.  read more »

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Manufacturing in Los Angeles: A Test Case in Why Increasing Concentration Isn’t Always a Positive

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What comes to mind when you think of Los Angeles’ big industries? Motion pictures and other entertainment sectors, yes. Real estate and corporate headquarters, too. But probably not manufacturing.

No other sector, however, contributes more to the Los Angeles metro area’s gross regional product – the final market value of all goods and services in a region – than manufacturing. It accounted for 11% of L.A.’s GRP in 2012, narrowly beating out the real estate and rental and leasing sector (10%).  read more »

What Detroit’s Bankruptcy Teaches America

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As has long been expected, the city of Detroit has officially filed for bankruptcy.  While many will point to the sui generis nature of the city as a one-industry town with extreme racial polarization and other unique problems, Detroit’s bankruptcy in fact offers several lessons for other states and municipalities across America.  read more »