Deadline reporters, especially in weather broadcasts from the surf line, have been wailing about “this enormous storm” or “the unfolding tragedy.” What they might also say is that hurricanes are a munificent windfall for newspapers, television stations, the federal government, construction unions, and politicians seeking reelection. In addition to classifying storms from one to five on the Saffir-Simpson scale, going forward it might also be possible to grade hurricanes as profit centers, or by the surge levels that they generate in reelection campaigns. read more »
One of the more curious developments in American politics over the last two decades is the political malpractice of Republicans in dealing with Hispanic-Americans. Indeed, it now appears that the 2012 election may well be determined by the share of the Latino vote that Governor Mitt Romney is able to keep from falling into President Barack Obama’s column. read more »
This is the introduction to a new report on the future of the American Great Plains released today by Texas Tech University (TTU). The report was authored by Joel Kotkin; Delore Zimmerman, Mark Schill, and Matthew Leiphon of Praxis Strategy Group; and Kevin Mulligan of TTU. Visit TTU's page to download the full report, read the online version, or to check out the interactive online atlas of the region containing economic, demographic, and geographic data.
For much of the past century, the vast expanse known as the Great Plains has been largely written off as a bit player on the American stage. As the nation has urbanized, and turned increasingly into a service and technology-based economy, the semi-arid area between the Mississippi Valley and the Rockies has been described as little more than a mistaken misadventure best left undone. read more »
In the last half century, East Asia emerged as the uber-performer on the global economic stage. The various countries in the region found success with substantially different systems: state-led capitalism in South Korea, Singapore and Japan; wild and wooly, competitive, entrepreneur-led growth in Taiwan and Hong Kong; and more recently, what Deng Xiaoping once described as “socialism with Chinese characteristics.” read more »
Is college worth it? The question almost seems ludicrous on its face. The unemployment rate for people with a college degree is only 4.2% versus 9.1% for people without a college degree and 13.0% for people with less than a high school education. In this economy, that should be an open and shut case. read more »
High land prices have all but killed the Australian housing industry.
Lower housing starts has led to lower GST revenues (house construction attracts full GST) and lower stamp duty receipts are crippling state budgets and cruelling the chances of low and middle income earners to get a start in the housing market.
What has caused this slump in housing starts? Land prices. read more »
Professor Shlomo Angel's new book, Planet of Cities, seems likely to command a place on the authoritative bookshelf of urbanization between Tertius Chandler's Four Thousand Years of Urban Growthand Sir Peter Hall's Cities and Civilization and The Containment of Urban England. Chandler produced the definitive volume of gross population figures for urban areas (cities) over millennia. Angel, takes the subject much further, describing detail how urban areas have grown over the last two centuries, both in population and continuous urban land area. The book focuses principally on population growth, urban spatial expanse, and density. read more »
I recently moved to Providence, Rhode Island, where I live in the town of West Warwick. I’ve been learning the place more and soaking in New England culture (and seafood). This area has a Rust Belt type profile: declining population, post-industrial economic landscape, high unemployment, etc. So I’ve been trying to get a handle on conditions and think a bit about what the opportunities are. read more »
The most recent jobs report was again below consensus. With fewer than 100,000 new jobs, unemployment fell only because people continue to leave the labor force in huge numbers. People are discouraged, and many don't believe we are in a recovery. Why would they think that we aren't in a recovery? After all, GDP is above its pre-recession high, and we hear all the time about how many jobs have been created over the past couple of years. read more »
The Nordic nations, and Sweden in particular, are seen by many as the proof that it is possible to combine innovative and entrepreneurial economies with high tax rates. It is often argued that nations such as the US can gain the attractive social features of Denmark, Sweden, Norway and Finland — such as low crime rates, high life expectancy, and a high degree of social cohesion — simply by expanding the welfare state. An in depth analysis, however, shows that this line of reasoning is flawed. read more »