Surely you’ve seen it in your own neck of the woods: great contrasts between prosperity and wealth on the one hand, and hardship and despair on the other. I have certainly seen it in every place I have been over the last four years. read more »
In Madrid you see them on the streets, jobless, aimless, often bearing college degrees but working as cabbies, baristas, street performers, or—more often—not at all. In Spain as in Greece, nearly half of the adults under 25 don’t work.
Call them the screwed generation, the victims of expansive welfare states and the massive structural debt charged by their parents. In virtually every developed country, and increasingly in developing ones, they include not only the usual victims, the undereducated and recent immigrants, but also the college-educated. read more »
Midcentury modern tours now are taking place in cities all over the country. Renewed interest in this era capitalizes on the millennials’ interest in design from a time that seems almost impossibly optimistic compared to today’s zeitgeist. Most cities around the country boast a healthy building stock from this postwar period, nicknamed “the suburbs,” although these are ritually condemned – and designated for annihilation – by academics, urban land speculators and the urban clerisy. read more »
The Midwest’s troubles are well-known. The decline of manufacturing has resulted in job losses and dying industrial towns. The best and brightest have fled the flatlands for more exciting, sunnier, mountainous, or coastal places where the real action is. Even Peyton Manning has left the heartland for the Rockies. read more »
California Senate President Pro-Tem Darrell Steinberg countered my Wall Street Journal commentary California Declares War on Suburbia in a letter to the editor (A Bold Plan for Sustainable California Communities) that could be interpreted as suggesting that all is well in the Golden State. read more »
Few states have offered the class warriors of Occupy Wall Street more enthusiastic support than California has. Before they overstayed their welcome and police began dispersing their camps, the Occupiers won official endorsements from city councils and mayors in Los Angeles, San Francisco, Oakland, Richmond, Irvine, Santa Rosa, and Santa Ana. Such is the extent to which modern-day “progressives” control the state’s politics. read more »
My April 9 Cross Country column commentary in The Wall Street Journal (California Declares War on Suburbia) outlined California's determination to virtually outlaw new detached housing. The goal is clear: force most new residents into multi-family buildings at 20 and 30 or more to the acre. read more »
For the last two decades, America’s pundit class has been looking for models to correct our numerous national deficiencies. Some of the more deluded have settled on Europe, which, given its persistent low economic growth over the past 20 years and minuscule birth rates, amounts to something like looking for love in all the wrong places. read more »
In January, The New York Times released a front-page report on the iEconomy, Apple’s vast and rapidly growing empire built on the production of tech devices almost exclusively overseas. The fascinating story created a wave of attention when it was published, and it’s back in the news after NPR’s “This American Life” retracted its story about working conditions at Foxconn, one of Apple’s key suppliers of iPhones and iPads. read more »
There has been news and conversation about economic inequality and economic growth lately, mostly because the former is increasing steadily and the latter has been less than stellar.
Of course, there is always a tension between economic growth and equality. Economic growth implies at least some inequality. That’s because most people need incentives to create things people value. They need a reward. Creating perfect equality necessarily eliminates incentives. read more »