Economics

Why North Dakota Is Booming

ND-sunflower.jpg

Living on the harsh, wind-swept northern Great Plains, North Dakotans lean towards the practical in economic development. Finding themselves sitting on prodigious pools of oil—estimated by the state's Department of Mineral Resources at least 4.3 billion barrels—they are out drilling like mad. And the state is booming.  read more »

California’s Demographic Dilemma: A Class And Culture Clash

dust-bowl.jpg

The newly released Census reports reveal that California faces a profound gap between the cities where people are moving to and the cities that hold all the political power. It is a tale that divides the state between its coastal metropolitan regions that dominate the state’s politics — particularly the San Francisco Bay Area, but also Los Angeles — and its still-growing, largely powerless interior regions.  read more »

The Protean Future Of American Cities

Kansas-city-skyline.jpg

The ongoing Census reveals the continuing evolution of America’s cities from small urban cores to dispersed, multi-polar regions that includes the city’s surrounding areas and suburbs. This is not exactly what most urban pundits, and journalists covering cities, would like to see, but the reality is there for anyone who reads the numbers.  read more »

From the Great Moderation to the Great Stagnation

store-closed.jpg

For much of the past decade, I was a proponent of the thesis that that the American economy had entered a “great moderation,” where expansions lasted longer and recessions were fewer, shorter and milder. Productivity had seemingly reached a permanently high plateau; inflation seemed tamed. The spreading of financial risk, across institutions and around the world, seemed to have reduced the odds of a crisis.  read more »

Is Nashville the Next Boomtown of the New South?

nasville-renn.jpg

I traveled to Nashville for the first time in 2007, spending most of my time in the downtown area. I posted my impressions here, noting the high growth and high ambition level as well as the fantastic freeways, but also the generally unimpressive development and built environment.  read more »

Sputnik Moments, Spending Cuts, and (Remember These?) Jobs

obama-boehner.jpg

The stand-off in Washington over spending reductions has pushed aside serious discussion about a far more pressing issue:  job creation.

Granted, the country is long overdue for action on spending cuts. There is much that our government does that we can live without. Bureaucracies’ programmatic lassitude and congressional appropriators’ adolescent-like lack of discipline have contributed to our nation’s fiscal imbalance.  read more »

The State of Silicon Valley

silicon-valley.jpg

Every year, the top officials, policy wonks, and business managers convene at the annual State of the Valley conference to discuss and debate the health of the region. Over a thousand attendees trekked to San Jose, Calif., on Feb. 18 for the release of this year’s report. Published since 1995 by Joint Venture Silicon Valley Network and distributed for free, the new 2011 Index of Silicon Valley reported bleak indicators and a gloomy outlook.  read more »

Mortgage Meltdown: How Underwriting Went Under

house in sinkhole improved.JPG

The White House remedies for the mortgage meltdown were presented on Friday. Congress will debate the life extension, death, or rebirth of federal mortgage entities Fannie Mae and Freddie Mac during the coming weeks.

When the noise has died down, don't expect substantial change. But those who hope for genuine financial reform should, nonetheless, listen carefully not only to what Washington says, but to whom it says it.  read more »

A Leg Up: World's Largest Cities No Longer Homes of Upward Mobility

mumbai.jpg

Throughout much of history, cities have served as incubators for upward mobility. A great city, wrote René Descartes in the 17th century, was “an inventory of the possible,” a place where people could lift their families out of poverty and create new futures. In his time, Amsterdam was that city, not just for ambitious Dutch peasants and artisans but for people from all over Europe. Today, many of the world’s largest cities, in both the developed and the developing world, are failing to serve this aspirational function.  read more »

Why Duany is Wrong About the Importance of Public Participation

wash-street1.jpg

One of the news stories circling lately is an interview with Andres Duany where he asserts that public participation requirements are too onerous to enable great work to be done.   Early in my career I worked as a public historian and historic preservation specialist, so rather than launch immediately into my opinion, let me tell you a true story.  read more »