Economics

Amazon Eats Up Whole Foods as the New Masters of the Universe Plunder America

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“We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we can’t have both.” —Justice Louis Brandeis

With his $13.7 billion acquisition of Whole Foods, Amazon’s Jeff Bezos has made clear his determination to dominate every facet of mass retailing, likely at the cost of massive layoffs in the $800 billion supermarket sector.  read more »

Is America Now Second-Rate?

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President Donald Trump’s recent renunciation of the Paris climate change accords has spurred “the international community” to pronounce America’s sudden exit from global leadership. Now you read in the media aspirations to look instead to Europe, Canada, or even China, to dominate the world. Some American intellectuals, viewing Trump, even wish we had lost our struggle for independence.  read more »

Connecticut's Future is Suburban, Not Urban

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Connecticut is now grappling with a fiscal and economic crisis that, according to some leading Democrats, has been caused by ineffective urban policy. In late May, Hartford-based insurer Aetna confirmed long-discussed rumors that it will be moving its headquarters from Connecticut. General Electric announced plans to move from Fairfield, Connecticut to Boston in January 2016.  read more »

The Superstar Gap

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The biggest challenge facing many cities in transitioning to the knowledge economy is a shortage of “A” talent, especially true superstars.

All “talent” isn’t created equal. Crude measures such as the percentage of a region with college degrees, or even graduate degrees, don’t fully capture this. It is disproporationately the top performers, the “A” players and superstars that make things happen.  read more »

Where Manufacturing Is Thriving In The U.S.

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Throughout the dismal presidential campaign, the plight of America’s manufacturing sector played a central role. Yet despite all the concerns raised about factory jobs leaving the country, all but 18 of the country’s 70 largest metropolitan regions have seen an uptick in industrial employment since 2011.  read more »

Las Vegas Lessons, Part 1

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I spent much of last week in Las Vegas for the International Council of Shopping Centers' RECON 2017, the world's largest real estate convention. It's a gathering for developers, brokers, property owners, retailers, architects, landscape designers, construction companies, municipalities and more to get together to discuss real estate possibilities, in the one city that owes its very existence to aggressive real estate ventures.  read more »

The Great Betrayal of Middle America

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America’s vast midsection, a region that has been hammered by globalists of both parties, has been abandoned by the great corporations that grew fat on its labor and resources.

To many from the Appalachians to the Rockies, Donald Trump projected a beacon of hope. Despite the conventional wisdom among the well-heeled of the great coastal cities, these resource and manufacturing hubs elected the new president.  read more »

The California economy's surface strength hides looming weakness

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If you listen to California’s many boosters, things have never been so good. And, to be sure, since 2011, the state appears to have gained its economic footing, and outperformed many of its rivals.  read more »

The Best Small and Medium-Size Cities For Jobs 2017

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Much of the U.S. media tends to see smaller cities as backwaters, inevitably left behind as the “best and brightest” head to the country’s mega-regions. The new economy, insists the Washington Post, favors large cities for start-ups and new businesses. Richard Florida has posited the emergence of a “winner take all urbanism” that tends to favor the richest cities, such as New York and San Francisco.  read more »

America's Heartland is Critical to Our Future

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The results of the 2016 presidential election have been ascribed -- by the winner’s critics -- to racism, hysteria, stupidity, or nostalgia. But what the results most reflected was a looming economic divide. Essentially, Donald Trump won in the parts of the country that grow most of the food, drill for oil and gas, and produce palpable things. The places that went for Hillary Clinton are where intangibles such as media, software, and financial transactions drive the economy.  read more »