Economics

Why it's All About Ohio: The Five Nations of American Politics

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Looking at Tuesday’s election results, it’s clear the United States has morphed into five distinct political nations. This marks a sharp consolidation of the nine cultural and economic regions that sociologist Joel Garreau laid out 30 years ago in his landmark book “The Nine Nations of North America.”

In political terms there are two solid blue nations, perched on opposite coasts, that have formed a large and powerful bloc. Opposing them are two almost equally red countries, which include the historic Confederacy as well as the vast open reaches between the Texas panhandle and the Canadian border.  read more »

The Biggest Losers In The 2012 Elections: Entrepreneurs

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Who lost the most in economic terms Tuesday? Certainly energy companies now face a potentially implacable foe — and a re-energized, increasingly hostile bureaucratic apparat. But it’s not them. Nor was it the rhetorically savaged plutocrats who in reality have been nurtured so well by the President’s economic tag team of Ben Bernanke and Tim Geithner.  read more »

The Biggest Winners From President Obama's Re-Election: Crony Capitalists

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President Obama’s re-election does not, as some conservatives suggest, represent a triumph of socialism. Instead, it marks the massive endorsement of an expanding crony capitalism that ultimately could reshape the already troubled American economic system beyond recognition.  read more »

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Prairie Populism Goes Bust As Obama’s Democrats Lose The Empty Quarter

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Along Phillips Avenue, the main street of Sioux Falls, South Dakota, the local theater’s marquee is a tribute to the late Senator and 1972 presidential candidate George McGovern, who was buried last month, and is still regarded as a hero by many here. But with McGovern gone, it seems that the Democratic tradition of decent populism he epitomized was being interred along with him.  read more »

The Rise of the Great Plains: Regional Opportunity in the 21st Century

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This is the introduction to a new report on the future of the American Great Plains released today by Texas Tech University (TTU). The report was authored by Joel Kotkin; Delore Zimmerman, Mark Schill, and Matthew Leiphon of Praxis Strategy Group; and Kevin Mulligan of TTU. Visit TTU's page to download the full report, read the online version, or to check out the interactive online atlas of the region containing economic, demographic, and geographic data.

For much of the past century, the vast expanse known as the Great Plains has been largely written off as a bit player on the American stage. As the nation has urbanized, and turned increasingly into a service and technology-based economy, the semi-arid area between the Mississippi Valley and the Rockies has been described as little more than a mistaken misadventure best left undone.  read more »

Is College Worth It?

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Is college worth it? The question almost seems ludicrous on its face.  The unemployment rate for people with a college degree is only 4.2% versus 9.1% for people without a college degree and 13.0% for people with less than a high school education. In this economy, that should be an open and shut case.  read more »

CERF's Economic Policy Plan

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Here at California Lutheran University's Center for Economic Research and Forecasting, we think that each presidential candidate does have an economic plan. But it is a bit difficult to discern the policy under all the campaign noise. Then there is the problem of the truth. When out of office, each party claims to be the protector of the public purse. Each accuses the other of running deficits, and both are right about this. Except for a brief respite at the end of the 1990s, deficit spending has been the norm since the 1974 oil crisis.  read more »

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Thoughts on Chicago’s Tech Scene

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I’ve said before that I don’t think Chicago is well positioned to become some type of dominant tech hub, but should only seek to get its “fair share” of tech. However, as the third largest city in America, Chicago’s fair share on tech is still pretty darn big. If you look at what’s been happening in the city the last couple of years, I think you’d have to have to say it’s something real. Built in Chicago lists 1145 companies in its inventory, and that’s definitely something.  read more »

How California Lost its Mojo

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The preferred story for California's economy runs like this:

In the beginning there was prosperity.  It started with gold.  Then, agriculture thrived in California's climate.  Movies and entertainment came along in the early 20th Century.  In the 1930s there was migration from the Dust Bowl.  California became an industrial powerhouse in World War II.  Defense, aerospace, the world's best higher education system, theme parks, entertainment, and tech combined to drive California's post-war expansion.  read more »

The Braking Of The BRICs

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For over a decade, conventional wisdom has held that the future of the world economy rests on the rise of the so-called BRIC countries: Brazil, Russia, India, China (and, in some cases, with the addition of an ‘S’ for South Africa).  read more »