Middle Class

A ground-breaking study of intergenerational income mobility has the enemies of suburbia falling all over themselves to distort the findings. The study, The Spatial Impacts of Tax Expenditures: Evidence from Spatial Variation Across the U.S. (by economists Raj Chetty and Nathaniel Hendren of Harvard University and Patrick Kline and Emmanuel Saez of the University of California, Berkeley). Chetty, et al.  read more »

Eastvale, a new community just over the Riverside County line from Orange County, is a place that most urbanists would naturally detest. City Hall is no architectural masterpiece, occupying a small office inside the area's largest shopping mall. The streets are wide, and the houses tend to be over 2,500 square feet. There's nothing close to a walking district and little in the way of restaurants besides fast-food outlets and chain eateries.  read more »

“There is a secret at the core of our nation. And those who dare expose it must be condemned, must be shamed, must be driven from polite society. But the truth stalks us like bad credit.” – Writer Ta-Nehisi Coates

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With the recent Supreme Courts strike down of the 1965 Voting Rights Act, which was created to protect minority representation, the headline in the Huffington Post read “Back to 1964?” While some contend the title hyperbolic, the HuffPost lead, if not the strike down itself, reflects the reality of a country still tethered to its discriminatory past.  read more »

In May 2013, the district of Husby in suburban Stockholm, Sweden was shaken by “angry young men” engaging in destructive behavior for about 72 hours,¹ including the burning of automobiles and other properties and attacks on police officers (over 30 officers were injured). The violence spread to the nearby districts of Rinkeby and Tensta as well as to other parts of Sweden.  read more »

“'Angry young men' lack optimism.” This was the title of a BBC News story earlier this year, exploring the deeply pessimistic views that some young working class British hold about their own future. Two-thirds of the young men from families of skilled or semi-skilled workers, for example, never expect to own their own home. Angry young men, this time of immigrant origin, were also recently identified as the group causing riots in Swedish suburbs such as Husby.  read more »

Eighty years ago, the Tennessee Valley region was like many poor rural communities in tropical regions today. The best forests had been cut down to use as fuel for wood stoves. Soils were being rapidly depleted of nutrients, resulting in falling yields and a desperate search for new croplands. Poor farmers were plagued by malaria and had inadequate medical care. Few had indoor plumbing and even fewer had electricity.  read more »

For some students, the decision to enroll at a community college is simple. A two-year school offers the credential they need at a much lower cost than a university, and the earnings post-degree are on par with — or better than — what they would make after going to a four-year school.

Less debt, similar salary — the math adds up.  read more »

One hundred and fifty years after twin defeats at Gettysburg and Vicksburg destroyed the South’s quest for independence, the region is again on the rise. People and jobs are flowing there, and Northerners are perplexed by the resurgence of America’s home of the ignorant, the obese, the prejudiced and exploited, the religious and the undereducated.  read more »

The startup scene today, and by ‘scene’ I’m sweeping a fairly catholic brush over a large swath of people – observers, critics,  investors, entrepreneurs, ‘want’repreneurs, academics, techies, and the like – seems to be riven into two camps.

On one side stand those who believe that entrepreneurs have stopped chasing and solving Big Problems – capital B, capital P: clean energy, poverty, famine, climate change, you name it.  I needn’t replay their song here; they’ve argued their cases far more eloquently elsewhere.   read more »

Our tepid economic recovery has been profoundly undemocratic in nature. Between the “too big to fail” banks and Ben Bernanke’s policy of dropping free money from helicopters on the investor class, there have been two recoveries, one for the rich, and another less rewarding one for the middle class.

Viewed in this light, the recent run-up in home prices, the biggest in seven years, offers some relief from this dreary picture. Home equity accounts for almost two-thirds of a “typical” family’s wealth (those in the middle fifth of U.S. wealth distribution); there is no other investment by which middle-class families can so easily grow their nest eggs.  read more »