Policy

Can Abe Tackle The Real Reason For Japan's Decline? (Procreation)

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Much has been made of Japan’s latest relapse into recession. For the most part, economists have focused on the efficacy of the once much-ballyhooed “Abenomics,” the stimulus and structural reform program that was seen as the key to turning around the island nation’s torpid economy.  read more »

Good Enough Urbanism: Faster, Cheaper, Smarter

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There’s plenty of blight out there. Inner city blight, failing suburban blight, long lost rural small town blight… empty storefronts, boarded up buildings, dead streets. There’s simply no government program that’s going to bring these places back to life. No Wall Street investment scheme is likely to revive these places. Developers have no economic incentive to do anything with these buildings. Banks are risk averse and will not fund investments here. However, many of these forlorn spots exist within otherwise populated and potentially healthy neighborhoods.  read more »

Cities: Better for the Great Suburbanization

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Where Cities Grow: The Suburbs

The massive exodus of people from rural areas to urban areas over the past 200 years has been called the "great urbanization." For more than two centuries, people have been leaving rural areas to live in cities (urban areas). The principal incentive has been economic. But most of this growth has not taken place close to city centers, but rather on or beyond the urban fringe in the suburbs (and exurbs). Appropriately, The Economist magazine refers to the urbanization trend as the "great suburbanization," in its December 6, 2014 issue (PLACES APART: The world is becoming ever more suburban, and the better for it).  read more »

The Rustbelt Roars Back From the Dead

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Urban America is often portrayed as a tale of two kinds of places, those that “have it” and those who do not. For the most part, the cities of the Midwest—with the exception of Chicago and Minneapolis—have been consigned to the second, and inferior, class. Cleveland, Buffalo, Detroit or a host of smaller cities are rarely assessed, except as objects of pity whose only hope is to find a way, through new urbanist alchemy, to mimic the urban patterns of “superstar cities” like New York, San Francisco, Boston, or Portland.  read more »

The Three Ages of Boss Rule

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Between roughly the Civil War and World War II, most American cities were at some point dominated by a boss and his machine. The term “boss” referred not only a powerful politician, but one who acquired, held and exercised power outside the channels dictated by law. Progressive reformers fought the bosses for control of American city government for over a century. The Progressives ultimately won, or, at least, the bosses lost.  read more »

Subjects:

Evaluating Urban Rail

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For more than 40 years, US cities have rushed to build new rail systems (indeed I was part of such an effort, see Los Angeles: Rail for Others). This article examines the trend in transit and driving alone work trip market share in 23 cities (metropolitan areas) that have built new rail systems that have represented material expansions of regional transit systems. These new rail systems include Metros ("heavy rail"), light rail (not streetcars) and commuter rail (suburban rail).  read more »

Las Vegas: The Once and Future Downtown Project

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There’s been a lot in the news lately about the troubles plaguing Tony Hsieh’s Downtown Project in Las Vegas. The latest is a longish report in the Guardian, which notes:

Yet by late September of this year, the press – especially the technology press – had begun asking some serious questions, as the Downtown Project suddenly laid off 30 people – 10% of the total it then directly employed. Alongside portentous headlines announcing this “bloodletting” appeared claims that Hsieh had “stepped down” from his position of leadership of the project. A damning open letter from the Downtown Project’s former “director of imagination”, David Gould, called the operation from which he had just resigned “a collage of decadence, greed and missing leadership … There were heroes among us,” he added, “and it is for them that my soul weeps.”

 read more »

Southern California Stuck in Drive

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Southern California has long been a nurturer of dreams that, while widely anticipated, often are never quite achieved. One particularly strong fantasy involves Los Angeles abandoning what one enthusiast calls its “car habit” and converting into an ever-denser, transit-oriented region.  read more »

Legal but Still Poor: The Economic Consequences of Amnesty

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With his questionably Constitutional move to protect America’s vast undocumented population, President Obama has provided at least five million immigrants, and likely many more, with new hope for the future. But at the same time, his economic policies, and those of the progressive wing of the Democratic Party, may guarantee that many of these newly legalized Americans will face huge obstacles trying to move up in a society creating too few opportunities already for its own citizens, much less millions of the largely ill-educated and unskilled newcomers.  read more »

10 Steps to Financial System Stability: Lessons Not Learned

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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 »