Economics

Energy's Other Side

ND-landscape.jpg

The BP oil spill disaster likely spells the slowing down, or even curtailing, of offshore oil drilling for the foreseeable future. You can take California, Florida and much of the east coast off the energy-drilling map for years, perhaps decades.

But if the oil, gas and coal industries are widely detested on the coasts, people in Bismarck, N.D., have little incentive to join an anti-energy jihad. Like other interior energy centers, people in this small Missouri river city of over 100,000 see their rising oil-, gas- and coal-based economy as the key to a far more lucrative future.  read more »

BEA Report: Printed Word Surplus? Brave New Books at Book Expo America

typewriter at BEA4639586151_5b6085f0c7.jpg

If the future of the printed word lies inside the sleek case of Apple’s new iPad, get ready for illuminated manuscripts that will turn most books into animated cartoons. It was all on display at Book Expo America (BEA), the just-ended annual trade fair extravaganza that pulls together under one roof all the players in the publishing industry.  read more »

Subjects:

Toronto's G-20 Conference: Financial Boon or Boondoggle?

torontog20.jpg

Ever since the ill fated 1999 WTO meeting in Seattle, there has been some debate over the merits of hosting meetings of international organizations in major cities. Some argue that there are economic spin offs from the tourism generated by these conferences, but others argue that the security costs far outweigh the benefits. In the lead up to the G-20 meeting in Toronto, scheduled for June 26-27, there has been a flurry of controversy over the price tag for conference security.  read more »

Can Europe’s Economy Turn Around If Its Great Cities Continue To Wither?

paris.jpg

Europe's Greece crisis has turned the world's attention to the continent's fundamental flaw: burgeoning public spending and sluggish growth in some of its national economies.

To the extent that Europe's more economically fragile countries cannot fix this flaw, Europe poses a global financial risk as toppling EU countries cannot meet their obligations and those left standing cannot prop them up. Only fiscal discipline and boosting growth can save Europe in the long-run.  read more »

The Future Of America's Working Class

watford.jpg

Watford, England, sits at the end of a spur on the London tube's Metropolitan line, a somewhat dreary city of some 80,000 rising amid the pleasant green Hertfordshire countryside. Although not utterly destitute like parts of south or east London, its shabby High Street reflects a now-diminished British dream of class mobility. It also stands as a potential warning to the U.S., where working-class, blue-collar white Americans have been among the biggest losers in the country's deep, persistent recession.  read more »

Currency Crisis: Fool's Gold, The Euro, The Pound and The Dollar

flourescent US dollar bill-1376867166_b39fe16c76.jpg

Lost in the obituaries of the Euro — the European currency — is the extent to which the continent remains a fractured reservoir of national monies. To be sure, the Euro circulates in the larger economies of Western Europe, notably France, Germany, Italy, Spain, and the Netherlands. But as a traveling European, I also have in my wallet Polish złoty, Czech crowns, Serbian dinars, Swiss francs, and British pounds, testaments to the nationalist sentiment that every country should have it own money. (Which is similar to the notion that every country should have its own airline, no matter how much it costs.)  read more »

The Broken Ladder: The Threat to Upward Mobility in the Global City

staircase.png

Since the beginnings of civilization, cities have been the crucibles of progress both for societies and individuals. A great city, wrote Rene Descartes in the 17th Century, represented “an inventory of the possible”, a place where people could create their own futures and lift up their families.

In the 21st Century – the first in which the majority of people will live in cities – this unique link between urbanism and upward mobility will become ever more critical. Cities have become much larger. In 1900 London was the world’s largest urban center with seven million people. Today there are three dozen cities with larger populations.  read more »

The Limits Of The Green Machine

tree-hug.jpg

Environmentalism is strangely detached from the public's economic goals.

The awful oil spill in the Gulf--as well as the recent coal mine disaster in West Virginia--has added spring to the step of America's hugely influential environmental lobby. After years of hand-wringing over global warming (aka climate change), the greens now have an issue that will play to legitimate public concerns for weeks and months ahead.

This is as it should be. Strong support for environmental regulation--starting particularly under our original "green president," Richard Nixon--has been based on the protection of public health and safety, as well as the preservation of America's wild spaces.  read more »

Santa Fe-ing of the World, Bridging the Digital Divide

southafrica-computer.jpg

This is the second of a two-part piece. Read part one.

If we accept that many rich people are going to find attractive this scenario of dramatically different settlement patterns that feature new aggregation – widely dispersed – the question then becomes whether information technology will ever become a global influence on the built environment, shaping the way the middle class and even the working class live, the way railroads, jets, and automobiles did.  read more »

Santa Fe-ing of the World

santafe.jpg

This is part one of a two-part piece. Read Part two.

Human settlements are always shaped by whatever is the state of the art transportation device of the time. Shoe-leather and donkeys enabled the Jerusalem known by Jesus. Sixteen centuries later, when critical transportation has become horse-drawn wagons and ocean-going sail, you get places like Boston. Railroads yield Chicago – both the area around the “L” (intraurban rail) and the area that processed wealth from the hinterlands (the stockyards). The automobile results in places with multiple urban cores like Los Angeles. The jet passenger plane allows more places with such “edge cities” to rise in such hitherto inconvenient locations as Dallas, Houston, Seattle and Atlanta and now Sydney, Lagos, Cairo, Bangkok, Djakarta, and Kuala Lumpur.  read more »