Recently, BloombergView writer Michael Lewis called attention to tape recordings made by a Federal Reserve Bank of New York bank examiner who was stationed inside Goldman Sachs’ offices for several months during 2011-2012. She released the tapes to This American Life who aired her story on September 26, 2014. read more »
Long Island is the birthplace of suburbia, from colonial-period Brooklyn to Levittown and beyond, and its economy has survived booms and busts since the 1950s. As stagnant as it may be, if it's anything, it is resilient. Today, its problems mirror those of many older suburban areas scattered across the country, and, like many other suburbs, its problems cannot be solved by simply shoehorning in more development - and more tax revenue. Are policymakers addressing the true thorns in the region's side: Affordable housing, cost-of-living, taxes, racism and fear of change? read more »
We know this was a harsh recession, followed by, at best, a tepid recovery for the vast majority of Americans. But some people and some regions have surged somewhat ahead, while others have stagnated or worse. read more »
“If the 19th [century] was the century of the individual (liberalism means individualism), you may consider that this is the ‘collective’ century, and, therefore, the century of the state.”
Benito Mussolini, “The Doctrine of Fascism” (1932), translated by Barbara Moroncini.
Where goes the 21st century? Until recently, it could be said that, with the defeat of fascism, in 1945, followed by the collapse of the Soviet Union about a half century later, that we had seen the demise of what the Italian dictator Mussolini envisioned as “a century of authority.” But, now, liberalism’s global triumphal march, as was so brazenly predicted in some corners just two decades ago, seems to have slowed, and may even be going into reverse. read more »
Desperate times call for desperate measures. The Rust Belt, a region familiar to the air of anxiety, knows this all too well, particularly the “desperate measures” part.
A case in point: During the 1990’s, Pittsburgh, like many of its Rust Belt peers, was in the midst of a fit of brain drain hysteria. Strategic policy was needed. So the powers that be thought of a marketing campaign meant to saturate the minds of the educated “young and the restless” who were thinking about exiting the Steel City. read more »
Silicon Valley long has been hailed as an exemplar of the American culture of opportunity, openness and entrepreneurship. Increasingly, however, the tech community is morphing into a ruling class with the potential for assuming unprecedented power over both our personal and political lives. read more »
Mayor de Blasio has his work cut out for him if he really wants to end New York’s “tale of two cities.” Gotham has become the American capital of a national and even international trend toward greater income inequality and declining social mobility.
There are things the new mayor can do to help, but the early signs aren’t promising that he will be able to reverse 30 years of the hollowing out of the city’s once vibrant middle class. read more »
After approving yet another general budget stopgap for highway construction in July, legislators across the country are acknowledging the obvious: The Federal Highway Trust Fund, the primary pot of federal roadway dollars, is nearly out of gas. read more »
Any serious student of California knows that the state’s emergence in the past century reflected a triumph of engineering. From the water systems, the dredged harbors, the power stations and the freeway system, California overcame geographical limits of water, power and its often-unmanageable coastline to create a beacon of growth and opportunity.
That was then, but certainly not the case today. Indeed, since the halcyon postwar days of infrastructure-building under Gov. Pat Brown, roughly one-in-five dollars of state spending went to building roads, bridges, water systems and the like. Today, this investment amounts to less than 5 percent. read more »