Many modern economies struggle with integrating foreign-born into their labor markets. In particular, low-skilled immigrants from poor countries experience high unemployment and a range of related social problems. Much has been written about the extent of the problem. In many Western European cities, entire communities of migrants are living in social and economic exclusion. The state of poverty is often persists among their children. read more »
In ways not seen since the Gilded Age of the late nineteenth century, America is becoming a nation of increasingly sharply divided classes. Joel Kotkin’s The New Class Conflict breaks down these new divisions for the first time, focusing on the ascendency of two classes: the tech Oligarchy, based in Silicon Valley; and the Clerisy, which includes much of the nation’s policy, media, and academic elites.
The Proleterianization of the Middle Class
From early in its history, the United States rested on the notion of a large class of small proprietors and owners. “The small landholders,” Jefferson wrote to his fellow Virginian James Madison, “are the most precious part of a state.” To both Jefferson and Madison, both the widespread dispersion of property and limits on its concentration—“the possession of different degrees and kinds of property”—were necessary in a functioning republic. read more »
If California is to change course and again become a place of opportunity, the impetus is likely to come not from the perennially shrinking Republican Party but from working-class and middle-class Democrats. read more »
Der Spiegel had an interesting article recently called “Angry Germans: Big Projects Face Growing Resistance.” The article (linked version is English) talks about how it is increasingly difficult to get infrastructure projects built in Germany.
Wherever ambitious construction ventures loom on the horizon in Germany — from the cities to the countryside, from the coastlines in the north to the Black Forest in the south — opponents are taking to the streets…. read more »
America, seen either from here or from abroad, doesn’t look so good these days. The country that maintained world peace for decades now “leads by behind,” or not at all. You don’t have to have nostalgia for George W. Bush’s foreign policy to wish for someone in the White House who at least belongs in the same room with the likes of Vladimir Putin. Some wags now suggest that President Barack Obama has exceeded Jimmy Carter in foreign policy incompetence – Carter certainly was more effective in the Middle East. read more »
Ever since the publication this spring of Thomas Piketty’s book “Capital in the 21st Century,” conservatives and much of the business press, such as the Financial Times, have been on a jihad to discredit the author and his findings about increased income inequality in Western societies. Some have even equated growing attacks on inequality with anti-Semitism, with at least one Silicon Valley venture capitalist, Tom Perkins, comparing anti-inequality campaigners to Nazis. read more »
Michael Lind has released a new essay titled “The Coming Realignment” in The Breakthrough Journal, one of the most innovative magazines around today. He predicts that social conservatism as we know it will fade away, but that does not mean we will have political consensus; only that the terms of engagement may change.
Lind suggests will be two camps, one he calls “liberaltarian” based in the denser urban areas that he calls “Densitaria”; the other, “populiberalism,” will flourish in more loosely settled suburban areas he calls “Posturbia.” He contends that Densitaria will be primarily occupied by wealthy urbanites and their poor, often immigrant servants, while Posturbia, being dominated by the single family home, will occupy the middle ground. read more »
What if they gave a recovery, and the middle class were never invited? Well, that’s an experiment we are running now, and, even with the recent strengthening of the jobs market, it’s not looking very good.
Over the last five years, Wall Street and the investor class have been on a bull run, but the economy has been, at best, torpid for the vast majority of the population. Despite blather about our “democratic capitalism,” stock ownership is increasingly concentrated with the wealthy as the middle class retrenches. The big returns that hedge funds, real estate trusts or venture capitalist receive are simply outside the reach of the vast majority. read more »
Forty years ago, Mexico was a one-party dictatorship under the Partido Revolucionario Institucional, hobbled by slow growth, soaring inequality, endemic corruption and dead politics. California, in contrast, was considered a model American state, with a highly regarded Legislature, relatively clean politics, a competitive political process and a soaring economy. read more »
The November election will be played out along all the usual social memes – from gay marriage, racism and immigration to the “war against women.” But what may determine the outcome revolves around one key economic issue: energy. This has all come to a boil now as President Obama has backed an Environmental Protection Agency effort to accelerate tougher emissions standards, something that could shutter hundreds of coal-fired power plants and slow fossil fuel development across the country. read more »