Economics

The collapse of Lehman Brothers 10 years ago today began the financial crisis that crippled and even killed for some the American dream as we had known it. Donald Trump might be starting to change that, at least for Americans who aren’t determined to remain in our bluest and priciest cities.  read more »

In the late 1990s and the early Aughts, when the last Gen Xers and the first Millennials were launching into their adult lives, “Urban America” was a very different place. On many fronts, the choices young ambitious graduates had were fast becoming limitless, save on one key front: the cities where they could reasonably want to live.  read more »

Milwaukee and Oklahoma City are both planning to open new streetcar lines later this year, so it is worth taking a look at how the dumbest form of transit is working in other cities. The table below shows all of the streetcar lines reported in the July, 2018 National Transit Database spreadsheet. Ridership numbers are shown for January and July and annual growth compares the last full year (August 2017-July 2018) with the year before that.  read more »

Mark Rantala recently wrote an op-ed for Crain’s Cleveland Business that talks about Cleveland’s need for talent:  read more »

California is the great role model for America, particularly if you read the Eastern press. Yet few boosters have yet to confront the fact that the state is continuing to hemorrhage people at a higher rate, with particular losses among the family-formation age demographic critical to California’s future.  read more »

I was recently invited to give a talk at a housing conference down in Los Angeles. Once again my fellow speakers engaged in the usual arguments. Aging Baby Boomers asserted that we need to keep building more 1957 style suburban homes on the edge of the metroplex because that’s what people want and can afford, particularly once they marry and have children. Then a group of Millennials sang their sad song of high prices and a lack of options in the places they really want to live.  read more »

The Phoenix city council is considering delaying or even killing some planned light-rail lines because it is concerned that city streets are falling apart and too much money is being spent instead on an insignificant form of travel.  read more »

Noah Smith at Bloomberg has a new column where he provides another look at the geographic distribution of venture capital investing. Below is his chart of VC deals by market in 2017.  read more »

It’s hard for most of us to recall any period in the last fifty years that we could call the “good times” for labor in the U.S. Membership density in American unions has been on a steady decline. The National Labor Relations Board has certified few new unions, and mergers have become common. Almost none of the major corporate enterprises founded over the last thirty years are unionized.  read more »

Where do we go after Trump? This question becomes more pertinent as the soap opera administration seeks its own dramatic demise. Yet before they can seize power from the president and his now subservient party, the Democrats need to agree on what will replace Trumpism.  read more »