Middle Class

Cities of Aspiration

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Drew Klacik’s recent post on how he ended up in Indianapolis got me thinking about the unique status of what I’d describe as “cities of aspiration.” Pretty much all cities seem to be reasonably good at attracting people in the following cases:  read more »

Is California the New Detroit?

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Most Californians live within miles of its majestic coastline – for good reason. The California coastline is blessed with arguably the most desirable climate on Earth, magnificent beaches, a backdrop of snow-capped mountains, and natural harbors in San Diego and San Francisco. The Golden State was aptly named. Its Gold Rush of 1849 was followed a century later by massive post-war growth.  read more »

The Screwed Election: Wall Street Can’t Lose, and America Can’t Win

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About two in three Americans do not think what’s good for Wall Street is good for America, according to the 2012 Harris poll, but do think people who work there are less “honest and moral than other people,” and don’t “deserve to make the kind of money they earn.” Confidence in banks is at a record low,  read more »

The Rise of The 1099 Economy: More Americans Are Becoming Their Own Bosses

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While the economy has been miserable for small business, and many larger ones as well, the ranks of the self-employed have been growing. According to research by Economic Modeling Specialists International, the number of people who primarily work on their own has swelled by 1.3 million since 2001 to 10.6 million, a 14% increase.  read more »

The New Geography Of Success In The U.S. And The Trap Of The 'New Normal'

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This year’s presidential election is fast becoming an ode to diminished expectations. Neither candidate is advancing a reasonable refutation of the conventional wisdom that America is in the grips of a “new normal” — an era of low growth, persistently high unemployment and less upward mobility, particularly for the working class.  read more »

Are Millennials the Screwed Generation?

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Today’s youth, both here and abroad, have been screwed by their parents’ fiscal profligacy and economic mismanagement. Neil Howe, a leading generational theorist, cites the “greed, shortsightedness, and blind partisanship” of the boomers, of whom he is one, for having “brought the global economy to its knees.”  read more »

Core City Growth Mainly Below Poverty Line

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Over the toughest economic decade since Great Depression, the nation's core cities continued to gain more than their share the below poverty line population in the 51 metropolitan areas with more than 1,000,000 population. Between 2000 and 2010, core cities (Note 1) attracted approximately 10 percent of the increase in population (Note 2) while adding 25 percent of the increase in people under the poverty line (Figure 1).  read more »

The Cities Where A Paycheck Stretches The Furthest

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When we think of places with high salaries, big metro areas like New York, Los Angeles or San Francisco are usually the first to spring to mind. Or cities with the biggest concentrations of educated workers, such as Boston.  read more »

Despite Obama’s Policies, The Rust Belt’s Revival Could Save His Campaign

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Barack Obama’s political base always has been more “creative class” than working class—and his policies have favored that base, seeming to cater to energized issue and identity constituencies including African-Americans, Hispanics, gays, and greens, often at the expense of blue-collar workers.  read more »

Enterprising States 2012: Beating the New Normal and Policies that Produce

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The following is an exerpt form a new report, Enterprising States, released this week by the U.S. Chamber of Commerce and National Chamber Foundation and written by Praxis Strategy Group and Joel Kotkin. Visit this site to download the full pdf version of the report, or check the interactive map to see how your state ranks in economic performance and in the five policy areas studied in the report.  read more »