Economics

America's True Power In The NAFTA Century

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OK, I get it. Between George W. Bush and Barack Obama we have made complete fools of ourselves on the international stage, outmaneuvered by petty lunatics and crafty kleptocrats like Russia’sVladimir Putin. Some even claim we are witnessing “an erosion of world influence” equal to such failed states as the Soviet Union and the French Third Republic.  read more »

A Map Of America's Future: Where Growth Will Be Over The Next Decade

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The world’s biggest and most dynamic economy derives its strength and resilience from its geographic diversity. Economically, at least, America is not a single country. It is a collection of seven nations and three quasi-independent city-states, each with its own tastes, proclivities, resources and problems. These nations compete with one another – the Great Lakes loses factories to the Southeast, and talent flees the brutal winters and high taxes of the city-state New York for gentler climes – but, more important, they develop synergies, albeit unintentionally.  read more »

Southern California's Road Back

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If the prospects for the United States remain relatively bright – despite two failed administrations – how about Southern California? Once a region that epitomized our country's promise, the area still maintains enormous competitive advantages, if it ever gathers the wits to take advantage of them.  read more »

South Korea, What Will Limit the World’s Global Underdog?

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South Korea is a small country with grit. The shrimp sized peninsula is a national success story that transformed itself from impoverished conditions to industrial riches in a remarkable 68-year postwar period. The country experienced the fastest growth in per-capita GDP since the 1960.  read more »

Rust Belt Chic And The Keys To Reviving The Great Lakes

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Over four decades, the Great Lakes states have been the sad sack of American geography. This perception has been reinforced by Detroit’s bankruptcy filing and the descent of Chicago, the region’s poster child for gentrification, toward insolvency.  read more »

Root Causes of Detroit’s Decline Should Not Go Ignored

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Recently Detroit, under orders from a state-appointed emergency manager, became the largest U.S. city to go bankrupt. This stirred predictable media speculation about why the city, which at 1.8 million was once America’s 5th-largest, declined in the first place. Much of the coverage simply listed Detroit’s longtime problems rather than explaining their causes.  read more »

America Hanging in There Better Than Rivals

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To paraphrase the great polemicist Thomas Paine, these are times that try the souls of optimists. The country is shuffling through a very weak recovery, and public opinion remains distinctly negative, with nearly half of Americans saying China has already leapfrogged us and nearly 60 percent convinced the country is headed in the wrong direction. Belief in the political leadership of both parties stands at record lows, not surprisingly, since we are experiencing what may be remembered as the worst period of presidential leadership, under both parties, since the pre-Civil War days of Franklin Pierce and James Buchanan.  read more »

Mobility for the Poor: Car-Sharing, Car Loans, and the Limits of Public Transit

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Public transit systems intend to enhance local economies by linking people to their occupations. This presents problems for many  low-income families  dependent on transit for commuting. With rising prices at the gas pump, much hope has been placed on an influx of investment into public transit to help low-income households. But does public transit really help the poor?  read more »

What Detroit Has Really Taught America

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Nothing. Seriously. Not a damn thing.

Oh, the occasion is being used to opine on our state of affairs, but nothing is structurally taking shape in America to prevent the next Detroit from occurring. In fact, Detroit is occurring every day inside most of us. We are all getting bankrupt in so many little ways.  read more »

Here’s a Way to Flood the US Housing Market with One Trillion Dollars

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Members of the millennial generation – born between 1982 and 2003 – carry a student debt burden of close to one trillion dollars. This is the group that includes many just entering the stage in life when people tend to settle down and start families. Even though Millennials are marrying later than previous generations, they would still be the prime market for sales of single family starter homes, if only they could afford them.  read more »