Economics

Fractions within the Working Class

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This has been a rough year.  After the election, I reposted a few articles on my Facebook wall, as did so many of my friends, about the “working-class vote.”  Did the white working-class just elect Trump?  read more »

Common Sense on Immigration

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No issue divides the United States more than immigration. Many Americans are resentful of the estimated 11 million undocumented immigrants, worry about their own job security, and fear the arrival of more refugees from Islamic countries could pose the greatest terrorist threat.  read more »

Detroit's Recovery? Oh Yeah, It's Real Alright

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So it seems the debate has begun.  There's been enough progress in Detroit to discuss whether its rebound is for real, or not.

Two academics, Laura Reese of Michigan State University and Gary Sands of Wayne State University, wrote a piece for the Atlantic a couple weeks ago to counter the spreading narrative of Detroit's comeback.  The article notes the Motor City's rebound has caught the attention of the national media and parts of academia, but they aren't so certain that the trend is real, or if it is, whether it's indeed sustainable.  read more »

The Economics of Dependency

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This article first appeared at Foreign Affairs.

How countries hit the demographic sweet spot.

Demographics are among the most important influences on a country’s overall economic performance, but compared with other contributors, such as the quality of governance or institutions, their impact is underappreciated.  read more »

Is L.A. Back? Don't Buy the Hype.

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With two football teams moving to Los Angeles, a host of towers rising in a resurgent downtown and an upcoming IPO for L.A.'s signature start-up, Snapchat parent Snap Inc., one can make a credible case that the city that defined growth for a half century is back. According to Mayor Eric Garcetti, the Rams, Chargers and the new mega-stadium that will house them in neighboring Inglewood, show that “that this is a town that nobody can afford to pass up.”  read more »

Automation, Artificial Intelligence, and Projectile Wooden Shoes

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Sabotage has its root in the French word sabot, which is a kind of wooden shoe. In the early days of the Industrial Revolution craftsmen would throw their shoes into the gears of factory machines. Skilled labor was being replaced with mechanical production, undermining traditional professions, reducing incomes, and removing the social standing of workers. Wealth flowed up to the people who owned the factories and controlled the levers of political power. Sabotage was a form of negotiation.  read more »

The Economic Implications of Housing Supply

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A new paper with the above title by urban economists Edward Glaeser and Joseph Gyourko provides more evidence to back up the Antiplanner’s recent paper on the New Feudalism. One of the major points of that paper was that the Obama administration’s plan to force suburbs to relax zoning codes to allow higher density housing is not the solution to housing affordability problems.  read more »

Subjects:

The Midwest, Redefined

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What if the region we broadly understand as the Midwest, stretching from the foothills of the Alleghenies to the high plains, and from the chilly northern Great Lakes to the Ohio, Mississippi and Missouri river valleys, had been allowed to develop as organically as its eastern and southern -- and even western -- neighbors?  

If it had, it would be far better understood, have a much stronger cultural clarity, and more recognized for its contributions to American society and economy.  read more »

TruMpISSION: Impossible - Border Wall

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While running for office, President Trump said the border wall would cost about $8 billion, a figure widely recognized as an unreasonably low estimate". This week, the Department of Homeland Security (DHS) estimated the cost of construction at $21.6 billion. Figuring out what the wall would cost has been a source of debate for longer than the last election cycle. In 2013, the bipartisan "Gang of Eight" senators set aside $1.5 billion for a plan to add 700 miles of wall - also a completely unrealistic budget.  read more »

How Richard Longworth Predicted 20 Years Ago That Globalization Would Cause a Social Crisis

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Global Squeeze: The Coming Crisis for First-World Nations

Richard C. Longworth

McGraw-Hill 1998

Whenever we see the reality of momentous shifts in society, it’s always good to go back and take a look at the people who saw it coming far away. Generally speaking, there were usually people who understood what was happening in advance. For example, Daniel Bell wrote his book The Coming of Post-Industrial Society in 1976. There were probably even other earlier books touting the same theme.  read more »