Economics

When you think of financial services, one usually looks at iconic downtowns such as New York’s Wall Street, Montgomery Street San Francisco's or Chicago’s LaSalle Street. But since the great financial crisis of 2007-8 the banking business is on the move elsewhere. Over the last five years (2007 to 2012), even as the total number of financial jobs has declined modestly, they have been growing elsewhere.  read more »

California's current economic recovery may be uneven at best, but things certainly look better now than the pits-of-hell period in 2008. A cautiously optimistic New York Times piece proclaimed "signs of resurgence," and there was even heady talk in Sacramento of eventually sighting that rarest of birds, a state budget surplus.  read more »

Progressives may be a lot less religious  than conservatives, but these days they have reason to think that Providence– or Gaia — has taken on a bluish hue.

From the solid re-election of President Obama, to a host of demographic and social trends, the progressives seem poised to achieve what Ruy Texeira predicted a decade ago:  an “emerging Democratic majority”.

Virtually all the groups that backed Obama — singles, millennials, Hispanics, Asians — are all growing bigger while many of the core Republican groups, such as evangelicals  and intact families, appear in secular decline.  read more »

The always-entertaining Freakonomics podcast recently devoted a full episode to the emergence of management consulting firms in the U.S. The podcast got our attention right away when Stephen Dubner rattled off labor market statistics — something that always piques our interest — for management consultants.  read more »

The New York Times continued its excellent iEconomy series with an article on the job prospects for app developers. The lengthy piece gives a few snippets of labor market data for software developers and touches on the work of economist Michael Mandel in measuring the “App Economy.”  read more »

Talk all you want about the fiscal cliff, but more important still will be how the Obama administration deals with a potential growth-inducing energy boom.  read more »

We hear a lot of talk these days about so-called “global cities.” But what is a global city?

Saskia Sassen literally wrote the book on global cities back in 2001 (though her global cities work dates back well over a decade prior to that book). She gave a definition that has long struck with me.  read more »

With their enthusiastic backing of President Obama and the Democratic Party on Election Day, the bluest parts of America may have embraced a program utterly at odds with their economic self-interest. The almost uniform support of blue states’ congressional representatives for the administration’s campaign for tax “fairness” represents a kind of  bizarre economic suicide pact.  read more »

A review of data from the past 200 years indicates not only a huge increase in the world's population, but an even more significant increase in real incomes. This is illustrated using the data series developed by the late Angus Maddison of the Organization for Economic Cooperation and Development that included historic estimates of economic performance by geographical area (nations and other reported geographies) from 1500 to 2000.  read more »

For a century now, Republicans have confused being the party of plutocrats with being the party of prosperity. Thus Mitt Romney.

To win back the so-called 47 percent—an insulting description Romney doubled down after the election when he blamed his loss on Obama’s “gifts”—Republican might look farther back, past Calvin Coolidge and Herbert Hoover to their first president, Abraham Lincoln.  read more »