Economics

Last week’s conviction of former New Orleans Mayor Ray Nagin on 20 charges of bribery and fraud marks the end of a tumultuous era in the city’s history, and perhaps also the beginning of a new era in American urban politics. Perhaps most remarkable was the almost total lack of protest in New Orleans over the downfall of Nagin, who had relied heavily on polarizing racial politics in his last five years in office.  read more »

This is the executive summary from a new report Sustaining Prosperity: A Long Term Vision for the New Orleans Region, authored by Joel Kotkin for Greater New Orleans, Inc. Download the full report from GNO, Inc. here: gnoinc.org/sustainingprosperity

The recovery of greater New Orleans represents one of the great urban achievements of our era. After decades of slow economic, political and social decline, hurricane Katrina seemed a kind of coup de grâce, smothering the last embers of the region’s vitality.  read more »

The biggest issue facing the American economy, and our political system, is the gradual descent of the middle class into proletarian status. This process, which has been going on intermittently since the 1970s, has worsened considerably over the past five years, and threatens to turn this century into one marked by downward mobility.

The decline has less to do with the power of the “one percent” per se than with the drying up of opportunity amid what is seen on Wall Street and in the White House as a sustained recovery. Despite President Obama’s rhetorical devotion to reducing inequality, it has widened significantly under his watch.  read more »

I’ve seen a few pieces in the conservative press lately boasting about Scott Walker’s performance as governor of Wisconsin. For example, the American Spectator ran an article called “Wisconsin Thrives Under Scott Walker“:  read more »

A quarter century ago, the Los Angeles-Orange County area seemed on the verge of joining the first tier of global cities. As late as 2009, the veteran journalist James Flanigan could pen a quasiserious book, “Smile Southern California: You're the Center of the Universe,” which maintained that L.A.'s port, diversity and creativity made it the natural center of the 21st century.  read more »

The iconic view of tech companies almost invariably stress their roots in people’s garages, plucky individual entrepreneurs ready to challenge all comers. Yet increasingly the leading tech firms – Amazon, Apple, Facebook, Amazon and especially Google – have morphed into vast tech conglomerates, with hands in ever more numerous, and sometimes not obvious, fields of endeavor.  read more »

The stock market is high, real estate prices have resurged, even the unemployment rate is dropping, yet Americans still feel pretty down about the future. A survey released in January by the AP-NORC Center for Public Affairs Research had 54 percent of respondents expecting American life to go downhill over the coming decades. In a December survey, 23 percent of respondents said things will improve over time.  read more »

It’s a common notion nowadays that American blue-collar workers are doomed to live out their lives on the low-paid margins of the economy. They’ve been described as “bitter,” psychologically scarred and even an “endangered species.”  Americans, noted one economist, suffered a “recession” but those with blue collars endured a “depression.”  read more »

Income inequality is an increasingly dominant theme in American culture and politics. Data from the IRS covering mean and median income of filing households for 2012 by zipcode allow us to map and interpret the fascinating geography of income differences. Where are the richest areas, the poorest and the most unequal?  read more »

Maybe it's my age, but, somehow, the future does not seem to be turning out the way I once imagined. It's not just the absence of flying cars, but also the lack of significant progress in big things, like toward space colonization, or smaller ones, like the speed for most air travel or the persistence of poverty.  read more »