Economics

The mad dash for states, cities and other local units of government to spend the Biden-administration largess has begun. Once the floodgates are opened in a few weeks and the trillions of dollars in “Covid relief,” infrastructure “investment” and other sources of new federal bounty actually start flowing to jurisdictions across the country, America will see a government-spending spree the likes of which this nation has never experienced – not even in the midst of the Great Depression.  read more »

Jamil Ford still recalls the disorders of late May. ‘It was like Baghdad’, he recalls, even as jurors listen to the arguments during the trial of Derek Chauvin, the police officer accused of killing George Floyd. ‘I constantly think about it. The past history does not go away’, the African-American architect recalls, noting with trepidation possible National Guard deployments. ‘The mental part is still there.’  read more »

In a world that seems to be divided between neoliberal orthodoxy and identitarian dogmas, it is possible to miss the waning presence of traditional social democracy. Born of the radical Left in Marx’s own time, social democrats worked, sometimes with remarkable success, to improve the living standards of working people by accommodating the virtues of capitalism. Today, that kind of social democracy—learned at home from my immigrant grandparents and from the late Michael Harrington, one time head of the American Socialist Party—is all but dead.  read more »

While much of the focus is on the Covid-19 pandemic, the geography of Europe’s knowledge intensive jobs is being reshaped. For the fifth year, the European Centre for Entrepreneurship and Policy Reform (ECEPR) has in collaboration with Nordic Capital, a leading Nordic private equity firm, mapped the locations of knowledge intensive jobs of Europe. The brain business jobs index examines jobs in four knowledge-intensive industries—the tech sector, information and communications technology (ICT), advanced services, and creative professions.  read more »

For months the conventional wisdom among Democrats, amplified by their obliging claque in the media, was that lockdowns played an essential role in containing COVID-19. The great heroes, in addition to Anthony Fauci, were hardline governors like Michigan’s Gretchen Whitmer, California’s Gavin Newsom and, most of all, New York’s Andrew Cuomo.  read more »

Over the past few years California’s plight has taken on mythic proportions — a cautionary tale of progressive woe among conservatives, but a beacon for a future enlightened capitalism among its woke supporters. The current battle over the potential recall of the preening governor, Gavin Newsom, likely will enhance these extreme interpretations on both sides, but likely will not be sufficient to make the changes needed to restore the state’s legendary promise.  read more »

I’ve been asked to contribute to a book about smart cities and finance. I looked over the long list of tentative chapter titles provided by the publisher and it’s clearly meant to be an optimistic pragmatic problem solver. There’s an expectation that everything that ails our cities and towns can be fixed with the right combination of technology and creative accounting.  read more »

The current Suez Canal blockage has exposed some of Governor Newsom’s fiscal challenges that may be the driving force for the current recall efforts. Under his guidance (I did not use the word leadership), he continues to perpetuate the state’s dysfunctional energy polices and continues to do everything possible to further INCREASE the costs of energy for its 40 million residents.  read more »

The median price of homes in Auckland, New Zealand’s largest city, grew by $100,000 in February, reports the Real Estate Institute of New Zealand. That means prices were growing by $25,000 a week. The good news is that these are New Zealand dollars, which are only worth about 72 cents U.S., which means prices grew by “only” US$18,000 a week.  read more »

About a year ago, I got a call from Sonny Matta, one of the founders of Atlantic Beach Redevelopment Public-Private Partnership, introduced me to Atlantic Beach, South Carolina – a 97 acre city along the Atlantic Coast known to locals as The Black Pearl.

The town was formed in the 1930’s as a vacation destination for black families with thriving black-owned businesses. It became an entertainment center African American musicians could not just play, but also stay, which was not an option even in “integrated” cities like Los Angeles.  read more »