Driving through the bustling Orchard Road in the heart of Singapore, Wei Ping stares at the shiny new Prada hoarding. Maybe she should ”invest” in a new Prada bag. She must watch out for the next big season sale. Her birthday is a distance away but ever since she and her husband had started talking about the baby, she needed some retail therapy to lift her mood. read more »
When it comes to environmental issues, emotions often trump reasoned argument or sensible reform, especially in California. In Sacramento at our state capitol, real world impacts are abstracted into barbed soundbites. It’s the dialogue of the deaf as environmental advocates rally around our landmark California Environmental Quality Act (CEQA) -- and economic interests decry it as “a job killer.” Perhaps the polarization can be put aside to ask about a specific example in the real world. Why does an old K-Mart sit vacant on Ventura’s busiest boulevard despite initial City approval for a Walmart store? All the thunder and lightning surrounding whether a Walmart belongs in Ventura is behind us. A vigorous and contentious debate (and a failed citizen initiative) have rendered the verdict that filling an empty discount retail space with a different discount retailer is a function of the market, not government regulation. read more »
More than a decade ago, the Sierra Club and I crossed keyboards over urban density. The Sierra Club had just posted a new "neighborhood consumption calculator," that gave visitors the opportunity to look at the purported impacts of various density levels. The Sierra Club designated 500 dwelling units per acre as "efficient urban." Independently, Randal O'Toole and I quickly were on the Internet pointing out the absurdity of such high density. read more »
Robert Sarnoff , the CEO of RCA before it was absorbed by GE, once said, “Finance is the passing of money from hand to hand until it disappears.” That process is very clearly defined in The Age of Greed by Jeffrey Madrick. It recounts, in concise terms, how a few dozen individuals—some in the private sector, some in government--brought us to our current economic pass, in which finance seems to have been completely detached from life. Names from the past come back, and their crimes are explained. Ivan Boesky, Michael Milken, and Dennis Levine look guiltier in the retelling than they did in the newspapers at the time. And in this telling, the philosopher king of the new finance was Walter Wriston, CEO of Citicorp. read more »
California has three major problems: persistent high unemployment, persistent deficits, and persistently volatile state revenues. Unfortunately, the only one of these that gets any attention is the persistent deficit. It is even more unfortunate that many of the proposals to reduce the deficits are likely to make all three of the problems worse over the long run.
Two major proposals to deal with the deficit will shape the coming debate. One is from the newly formed Think Long for California Committee; the other from the governor. read more »
In an election year, politics dominates the news, but economics continue to shape people’s lives. Looking ahead to 2012 and beyond, it is clear that the United States is essentially made up of many economies, each with distinctly different short- and long-term prospects. We have highlighted the five regions that are most poised to flourish and help boost the national economy. read more »
Census 2010 gave the detail behind what we’ve known for some time: America is becoming an increasingly diverse place. Not only has the number of minorities simply grown nationally, but the distribution of them among America’s cities has changed. Not all of the growth was evenly spread or did it occur only in traditional ethnic hubs or large, historically diverse cities. read more »
As our third full calendar year at New Geography comes to a close, here’s a look at the ten most popular stories in 2011. It’s been another year of steady growth in readership and reach for the site. Thanks for reading and happy new year. read more »
The latest figures from the United States Department of Transportation indicate that driving volumes remain depressed. In the 12 months ended in September 2011, driving was 1.1 percent below the same period five years ago. Since 2006, the year that employment peaked, driving has remained fairly steady, rising in two years (the peak was 2007) and falling in three years. At the same time, the population has grown by approximately four percent. As a result, the driving per household has fallen by approximately five percent. read more »
Ill-informed chatter continues to dominate the airwaves when it comes to California public pensions. It’s a big, complex and critical issue for government at all levels in the Golden State. What makes debate so distorted is that public pensions actually differ from agency to agency — and advocates on the issue often talk past each other. Pension critics often point to outrageous abuses as if they were typical. On the other hand, pension defenders often cite current averages that understate long-term costs. All this fuels the typical partisan gridlock that Californians lament yet seem powerless to change in our state.
Credit Governor Jerry Brown for trying to overcome the polarization. read more »