Economics

The Cities Where African-Americans Are Doing The Best Economically 2018

12893975634_fd1ba57b09_z.jpg

The 2007 housing crisis was particularly tough on African-Americans, as well as Hispanics, extinguishing much of their already miniscule wealth. Industrial layoffs, particularly in the Midwest, made things worse.

However the rising economic tide of the past few years has started to lift more boats.  read more »

A New Vision For Southern California

512px-Bunker_Hill_Downtown_Los_Angeles.jpg

Since the start of the last century, Southern California has been a pioneer in building ways of living, and an economy, that broke with normal convention. Our region created a new paradigm, one both defining suburbanism and friendly to middle class aspirations, that attracted millions here.  read more »

Tech's New Hotbeds: Cities With Fastest Growth In STEM Jobs Are Far From Silicon Valley

write-593333_640.jpg

The conventional wisdom sees tech concentrating in a handful of places, many dense urban cores that offer the best jobs and draw talented young people. These places are seen as so powerful that, as The New York Times recently put it, they have little need to relate to other, less fashionable cities.  read more »

Should the Midwest Play a Game It Can’t Win?

vacant-lots-in-brush-park-detroit-stephen-harlan-300x200.jpg

Noah Smith at Bloomberg wrote a recent column on how to revive the Midwest that channels the ideas of Michigan based Brookings scholar John Austin. This strategy has two main planks: lure more immigrants and invest more in higher education (presumably research universities).  read more »

Subjects:

Thoughts on Boston and Northern Exclusion

boston.jpg

The Boston Globe's Spotlight investigative team recently touched a lot of nerves with its seven-part series about Boston's perception and reputation as a racist city. The Spotlight team should be commended for asking -- and seeking answers to -- a lot of very tough questions regarding Boston. Is Boston racist? How did it gain that reputation? Why does the reputation persist to this day, particularly among blacks?  read more »

Cronyism on an Industrial Scale to Blame for Inflated New York Subway Costs

7-train-new-york-subway-mta-300x203.jpg

Just before year end, the New York Times dropped a bombshell report on what they term “the most expensive mile of subway on earth.”

An extensive investigation by the Times finally starts to get at the heart of why construction costs on the New York subway are vastly higher than anywhere else in the world.  read more »

California Lithium Battery Maker Heads to Appalachia

Pikeville,_Kentucky_aerial.jpg

It is starting out to be a happy new year in Pikeville, Kentucky. Little in technology is more "cutting edge" today that lithium battery manufacturing. Elon Musk last year chose Nevada, not California for his mega plant a few years ago. Now, lithium battery manufacturer Ener Blu has announced plans to move, "lock stock and barrel" from Riverside-San Bernardino, east of Los Angeles, to Appalachian Kentucky, with its plant to be located in Pikeville, to be built on a what was a surface coal mine.  read more »

In The New Year, Worry-Free California Has A Lot To Worry About

256px-SF_California_Street_USA.jpg

Propped up by media idolatry, California is moving from denial to delusion. Case in point: A recent AP story claimed that the state “flush with cash from an expanding economy” would consider spending an additional billion dollars on health care for the undocumented, as well as a raft of new subsidies for housing and the working poor.  read more »

What’s Red, Blue, and Broke All Over? America.

TrumpTaxBillSigning1.png

Beneath the sex scandals, moronic tweets, ridiculous characters, and massive incompetence that dominate Washington in this mean period of our history lie more fundamental geopolitical realities. Increasingly it is economics—how people make money—rather than culture that drives the country into perpetual conflict.  read more »

Cronyism Damaged Venezuela before Chavez

256px-Hugo_Chávez_-_Simón_Bolívar.jpg

Venezuela is bankrupt, having just defaulted on three interest payments. And much of the world is pointing fingers at the socialist policies of Hugo Chavez and those of his successor, the incumbent Nicolás Maduro. This laying of the blame is not wrong but it is incomplete.

The kindest thing you could say about Mr. Chavez is that he was a talented demagogue who brilliantly identified his opportunity and judiciously seized his moment. But, as previously argued by Fred McMahon of the Fraser Institute, Chavez did not start Venezuela’s downward spiral.  read more »

Subjects: