There’s been a lot of talk lately about the shift in the US economy away from production and increasingly into services. Consider the employment data from the US: In 1950, 30% of all US jobs were in manufacturing while 63% were in services. In 2011, 9% of total employment remains in manufacturing, 86% in services. read more »
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 »
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 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 »
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 »
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 »
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 »
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 »
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 »
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 »