In this strange era of self-congratulation in California, it may be seen as poor manners to point out tectonic shifts that could leave the state and, particularly, Southern California, more economically constrained and ever more dependent on asset bubbles, such as in real estate. One of the most important changes on the horizon is the shift of economic power and influence away from the Pacific Coast to the Gulf Coast – the Third Coast – a process hastened by the imminent widening of the Panama Canal. read more »
The nation’s lackluster economic performance continues to be a concern. This is evident in stubbornly high unemployment rates (See: Suburban and Urban Core Poverty: 2012 Special Report),which continue to be well above historic norms. There is another indicator, which may be even more important – underemployment. read more »
Southern California has always been an invented place. Without a major river, a natural port or even remotely adequate water, the region has always thrived on reinventing itself – from cow town to agricultural hub to oil city, Tinsel Town and the “Arsenal of Democracy.” read more »
To many in the transit business – that is, people who seek to profit from the development and growth of buses, trains and streetcars – Southern California is often seen as a paradise lost, a former bastion of streetcar lines that crossed the region and sparked much of its early development. Today, billions are being spent to revive the region’s transit legacy. read more »
Urban boosters are rightly proud of the progress American cities have made since their nadir in the 1970s; Harvard economist Ed Glaeser has gone so far as to proclaim “the triumph of the city.” Yet recent events — notably Detroit’s bankruptcy and the victory of left-wing populist Bill de Blasio in the Democratic primary of the New York mayoral election — suggest that the urban future may prove far more problematic than commonly acknowledged. read more »
The world’s biggest and most dynamic economy derives its strength and resilience from its geographic diversity. Economically, at least, America is not a single country. It is a collection of seven nations and three quasi-independent city-states, each with its own tastes, proclivities, resources and problems. These nations compete with one another – the Great Lakes loses factories to the Southeast, and talent flees the brutal winters and high taxes of the city-state New York for gentler climes – but, more important, they develop synergies, albeit unintentionally. read more »
If the prospects for the United States remain relatively bright – despite two failed administrations – how about Southern California? Once a region that epitomized our country's promise, the area still maintains enormous competitive advantages, if it ever gathers the wits to take advantage of them. read more »
What comes to mind when you think of Los Angeles’ big industries? Motion pictures and other entertainment sectors, yes. Real estate and corporate headquarters, too. But probably not manufacturing.
No other sector, however, contributes more to the Los Angeles metro area’s gross regional product – the final market value of all goods and services in a region – than manufacturing. It accounted for 11% of L.A.’s GRP in 2012, narrowly beating out the real estate and rental and leasing sector (10%). read more »
Ninety years have made a world of difference in the United States. Between 1920 and 2010, the nation's population nearly tripled. But that was not the most important development. Two other trends played a huge role in shaping the United States we know today. The first trend was increasing urbanization, a virtually universal trend, but one which occurred earlier in the high income countries, while the other was a rapidly falling average household size.
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Walt Disney's first version of Tomorrowland came to life in 1955. The attractions were geared towards the space age, and towards the future of transportation that Disney believed scientists of his time were about to create. The imaginary world was intended to “give you an opportunity to participate in adventures that are a living blueprint of our future.” When Tomorrowland opened, its showpiece was the TWA Moonliner exhibit, which contained the Rocket to The Moon; later, its Flight to the Moon gave another perspective. read more »