The Census results are out for Illinois, and it's bad news for the city of Chicago, whose population plunged by over 200,000 people to 2,695,598, its lowest population since before 1920. This fell far short of what would have been predicted given the 2009 estimate of 2,851,268. It's a huge negative surprise of over 150,000, though perhaps one that should have been anticipated given the unexpectedly weak numbers for the state as a whole that were released in December. read more »
Throughout much of history, cities have served as incubators for upward mobility. A great city, wrote René Descartes in the 17th century, was “an inventory of the possible,” a place where people could lift their families out of poverty and create new futures. In his time, Amsterdam was that city, not just for ambitious Dutch peasants and artisans but for people from all over Europe. Today, many of the world’s largest cities, in both the developed and the developing world, are failing to serve this aspirational function. read more »
The sensationalist reporting of rising China tends to celebrate the country’s ascent. But there is one area where both economists and casual observers see a potential disaster: the real estate market. Media reports of skyrocketing housing prices in first tier cities like Beijing and Shanghai and photo essays of Chinese ‘ghost cities’ inject sober skepticism into the otherwise bewildering reality of rapid growth. read more »
Given that no one likes Switzerland’s banks, coo-coo clocks, high prices, smugness, dull cities, cheesy foods, or yodeling, I realize that it is too early to speak politically about “the Swiss Model.” But it needs to be pointed out that while the European Union evaporates and Homeland America goes for broke, the world’s second oldest democracy (1291) has trade and budget surpluses, a multi-lingual population, a green network of trains and buses to every village, excellent public schools, and a federal-style government that is closer to Thomas Jefferson’s America than the bureaucrati read more »
One of the news stories circling lately is an interview with Andres Duany where he asserts that public participation requirements are too onerous to enable great work to be done. Early in my career I worked as a public historian and historic preservation specialist, so rather than launch immediately into my opinion, let me tell you a true story. read more »
For a decade now U.S. city planners have obsessively pursued college graduates, adopting policies to make their cities more like dense hot spots such as New York, to which the "brains" allegedly flock.
But in the past 10 years "hip and cool" places like New York have suffered high levels of domestic outmigration. Some boosters rationalize this by saying the U.S. is undergoing a "bipolar migration"--an argument recently laid out by Derek Thompson in The Atlantic. read more »
There is mounting concern in Australia about the nature and extent of country’s housing affordability crisis. Expressions of distress are not limited to the middle income households who are locked out of the Great Australian Dream of home ownership. There is heightened interest from advocates of low income households and an opposition political party. Moreover, Australia's overvalued housing is receiving renewed attention in international circles. read more »
I am raining on the big parade by equating the Super Bowl with trade deficits, budget shortfalls, state bonds on the edge of default, and unemployment close to ten percent. But if thirty-second ads that cost $2.7 million or The Black Eyed Peas at halftime can’t lift the economy out of its doldrums, how can we expect the same miracles from Troy Polamalu or Aaron Rodgers? read more »
Scenes from Egypt, Tunisia and other places in the Middle East provide a stark reminder of the chaos that can consume entire nations. The scene on Bolsa Avenue in Little Saigon last week offered evidence that chaos can be overcome.
Don’t get me wrong—chaos had a place along Bolsa as streams of drivers sought rare parking spaces, crowds gathered around impromptu fireworks displays on the streets, and shoppers elbowed their way among dozens of flower merchants who set up shop in parking lots. read more »
Record deficit spending in Washington has many faces: Defense, Medicare, Social Security. But none has received more criticism in recent months than the infamous and notorious earmark. Conjuring up images of “Bridges to Nowhere” or “Teapot Museums”, earmarks, or Congressionally Directed Funding, have become the poster child for irresponsible, out of control, big government spending. But is the earmarking practice by Congressional representatives really pushing our country to the brink of bankruptcy? read more »