Middle Class

The debate over the repeal of California’s global-warming regulation, AB32, has degenerated into a shouting match, each side claiming economic ruin if the other side wins. A couple of long-dead French economists can help us think about the debate.

The great French economist Leon Walras (1834-1910) showed that perfect markets result in an allocation of goods and services that can’t be improved on, in the sense that no one could be made better off without someone else being made worse off.  read more »

Paul Krugman devoted a recent lengthy New York Times Magazine article to the promotion of a disastrous “cap and trade” regime for reducing carbon emissions. Though he doesn't outright endorse it, he strongly suggests that the Waxman-Markey bill that passed the House would be acceptable to him. Krugman then proceeds to pooh-pooh the carbon tax idea, one that I believe has far more merit.

Cap and trade would be a debacle for a slew of reasons. The most important is that it won't even reduce carbon emissions.  read more »

By Richard Reep

While Ben Bernanke fantasizes about the Recovery, most people in the building industry – especially in overbuilt Florida – will correct this gross error immediately and emphatically. The recession may be over for the Fed Chairman, but unemployment in the design and construction professions is probably in the 25-30% range, matching that of the Great Depression.

Even so, tiny glimmers of light shine in what many design professionals call the “microeconomy” of building – small commercial renovations, house additions, tenant improvements, and other projects normally too small to even be counted.  read more »

With the Labour Government exhausted and its supporters dismayed, why isn’t the Conservative Party leader David Cameron sailing home to victory?

Under the leadership of Prime Minister Gordon Brown, all the weaknesses of the Labour Party have been painfully exposed. British Prime Ministers are elected by the House of Commons, and the Members of that Parliament by the people; so when Brown’s predecessor Tony Blair resigned, his replacement as Labour Party leader became Prime Minister without a general election.  read more »

The Center for Neighborhood Technology (CNT) has produced a housing and transportation index (the "H&T Index"), something that has been advocated by Secretary of Housing and Urban Development (HUD) Shaun Donovan and Secretary of Transportation Ray LaHood. The concept is certainly worth support. Affordable housing and mobility are crucial to the well-being of everyone, which translates into a better quality of life, more jobs and economic growth.  read more »

Surprisingly, despite the real challenges Los Angeles faces today, the city is out in front of many of its urban competitors in transforming its capacity to provide a safe place to raise and properly educate children, exactly the criteria Millennials use in deciding where to settle down and start a family. It is the kind of challenge that cities around the country must meet if they wish to thrive in the coming decade.  read more »

In 2003 our family relocated to Folsom, California from Carson City, Nevada, after my father-in-law was diagnosed with Parkinson’s disease, to help with his care. In many ways the transition felt like an immersion into what Joel Kotkin calls the “city of aspiration.” Folsom, a Sacramento region suburb of 50,000, was notable for its robust economy, impressive K-12 schools, world-class bike paths, and low crime. It offered a favorable environment for families and upwardly mobile professionals.

Seven years later, the landscape has certainly changed. My father-in-law has passed on, and California's high cost of living continues to have a profound impact on our personal finances. This scenario, coupled with the currently dire economic picture, gave my wife and I pause to again rethink our future path. After many long nights of thoughtful dialogue, we came to the realization that it was time to break ties with the Golden State. In early summer, Denver will become our next home.

This pending relocation offers our family an opportunity to embrace what I call “the geography of place”— the merging of what one wants to do with where  read more »

For over a generation pundits, policymakers and futurists have predicted the decline of the American family. Yet in reality, the family, although changing rapidly, is becoming not less but more important.

This can be traced to demographic shifts, including immigration and extended life spans, as well as to changes of attitudes among our increasingly diverse population. Furthermore, severe economic pressures are transforming the family--as they have throughout much of history--into the ultimate "safety net" for millions of people.  read more »

One of the least anticipated developments in the nation’s 21st-century geography will be the resurgence of the American Heartland, often dismissed by coastal dwellers as “flyover country.”

Yet in the coming 40 years, as America’s population reaches 400 million, the American Heartland particularly the vast region between the Rocky Mountains and the Mississippi will gain in importance.  read more »

History imparts labels on moments of great significance; The Civil War, The Great Depression, World War II. We are entering such an epoch. The coming transformation of America and the world may be known as The Great Deconstruction. Credit restrictions will force spending cuts and a re-prioritization of interests. Our world will be dramatically changed. There will be winners and losers. This series will explore the winners and losers of The Great Deconstruction.

***

The phrase, The Great Depression, was coined by British economist Lionel Robbins in a 1934 book of the same name.  read more »