Economics

The Sick Man Of Europe Is Europe

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The recent near breakup of the United Kingdom — something inconceivable just a decade ago — reflects a deep, pervasive problem of identity throughout the EU. The once vaunted European sense of common destiny is decomposing. Other separatist movements are on the march, most notably in Catalonia, Flanders and northern Italy.

Throughout the continent, public support for a united Europe fell sharply last year. Opposition to greater integration has emerged, with anti-EU parties gaining support in countries as diverse as the United Kingdom, Greece, Germany and France.  read more »

Will Lindsay Lohan Save Greece?

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It's September, but island beaches from the Aegeans to Zante are still buzzing in Greece. Mykonos has been the summer's Go-To spot for superstars and supermodels; the mainland and cities are also seeing the British and Europeans coming back.

Greece's reemergence on the tourist circuit and the celebrity-watch sites has brought travel revenue, which accounted for 12 billion euros through April, actually above the previous peak in 2008. And, based on arrivals, the national tourism agency predicts that visitors will account for 13 billion euros this year.  read more »

Subjects:

Metro Area Gross Domestic Product

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The Bureau of Economic Analysis is out with the preliminary numbers for 2013 metro area GDP (see the press release). Here is a spreadsheet with per capita GDP data for all large metros.

We’ve now got enough data that it’s worthwhile to start tracking the trend vs. a 2010 base instead of 2000. With that, here are the top ten large metros by real per capita GDP:  read more »

Apocalypse Soon? Uneasiness with The Economy

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Seven in 10 Americans say the country is on the wrong track. Americans are unhappy, worried and pessimistic, and their spending is down according to a University of Michigan report. But the same report shows that consumer sentiment is up. Consumer confidence is up, according to the Conference Board, and our own Consumer Demand Index indicates that spending plans are up.  read more »

Southern California Becoming Less Family-Friendly

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The British Talmudic scholar Abraham Cohen noted that, throughout history, children were thought of as “a precious loan from God to be guarded with loving and fateful care.” Yet, increasingly and, particularly, here in Southern California, we are rejecting this loan, and abandoning our role as parents.  read more »

Class Issues, Not Race, Will Likely Seal the Next Election

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Recent events in Ferguson, Missouri and along the U.S.-Mexico border may seem to suggest that race has returned as the signature issue in American politics. We can see this already in the pages of mainstream media, with increased calls for reparations for African-Americans, and expanded amnesties for the undocumented.  read more »

America's Fastest-Growing Small Cities

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Coverage of America’s changing urban scene tends to focus heavily on large metropolitan areas and the “megaregions” now often said to dominate the economic future. Often missed has been a slow, but inexorable, shift of migration and economic growth to smaller cities, a geography usually ignored or dismissed, with the exception of college towns, as doomed to lag behind by urban boosters.  read more »

Welcome to the Billion-Man Slum

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When our urban pundit class speaks of the future of cities, we are offered glittering images of London, New York, Singapore, or Shanghai. In reality, the future for most of the world’s megacities—places with more than 10 million people—may look more like Dhaka, Mumbai, or Kinshasa: dirty, poverty- and disease-ridden, and environmentally disastrous.  read more »

The Problem With Being Global

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The globalization of cities and their elites often comes at the expense of many of the people who live there. Forced to compete with foreign capital and immigrant workers, native-born residents of cities from Los Angeles and London to Singapore often feel displaced, becoming strangers in what they thought was their own place.  read more »

Beyond Polycentricity: 2000s Job Growth (Continues to) Follow Population

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The United States lost jobs between 2000 and 2010, the first loss between census years that has been recorded in the nation's history. The decline was attributable to two economic shocks, the contraction following the 9/11 attacks and the Great Recession, the worst financial crisis since the Great Depression. Yet, even in this moribund job market, employment continued to disperse in the nation's major metropolitan areas.  read more »