Silicon Valley long has been hailed as an exemplar of the American culture of opportunity, openness and entrepreneurship. Increasingly, however, the tech community is morphing into a ruling class with the potential for assuming unprecedented power over both our personal and political lives. read more »
Mayor de Blasio has his work cut out for him if he really wants to end New York’s “tale of two cities.” Gotham has become the American capital of a national and even international trend toward greater income inequality and declining social mobility.
There are things the new mayor can do to help, but the early signs aren’t promising that he will be able to reverse 30 years of the hollowing out of the city’s once vibrant middle class. read more »
I’ve lived in San Francisco long enough (I’m getting old) that I’ve seen several waves of bright young people arrive, burn out, then move away. For some they were looking for adventure, found it, and then carried on with normal life elsewhere. But for most it was simply a matter of the numbers not adding up. Working a dead end low wage job while sharing a two bedroom apartment with seven room mates is only romantic for so long. I’m fairly inquisitive so I’ve kept up with many of these folks to see how they manage after they leave. I travel a lot and pop in to visit on occasion. read more »
As part of a small project I’m doing in Southern Indiana, I spent two days touring around Clark and Floyd Counties to see what was up. As a guy who grew up in the area, it was great to get to see a lot of the positive things that have been occurring there. While perhaps places like New Albany and Jeffersonville might be considered small cities, the Southern Indiana portion of the Louisville metro area has about 280,000 people and is integrated into the larger regional economy. read more »
With the Obama proposal to get some money for infrastructure, it is time to revisit the payoff from investments in transportation. Investments that improve the performance of transportation in the US will pay for themselves in 17 years through increased economic activity and the resulting gains in federal tax revenue. The rate of return for national investments in transportation is 7%, significantly more than the cost of borrowing. Recently released research verbalizes a theory of why the performance of infrastructure matters for the economy. read more »
The New York Times ran an article recently that’s nominally about football, but really gives insight into the decline of the Midwest and the rise of the South. Called “As Big Ten Declines, Homegrown Talent Flees,” this piece ties in perfectly with my recent essay on the differing social states of the Midwest and South. read more »
Finally, there is credible housing affordability data from China. For years, analysts have produced "back of the envelope" anecdotal calculations that have been often as inconsistent as they have been wrong. read more »
With public support for Barack Obama recently at low ebb, some might suggest that his will be a weak political legacy. But, in reality, the president’s legacy may prove profoundly important in having helped usher into power a new dominant political configuration whose influence will survive for decades to come.
In “The New Class Conflict,” I describe this alliance as the New Clerisy, which encompasses the media, the academy and the expanding regulatory bureaucracy. This Clerisy already dominates American intellectual and cultural life and increasingly has taken virtual control of key governmental functions, as well as the educations of our young people. read more »
This is a new report brief from the Center for Population Dynamics at Cleveland State University, download the pdf version here. The report was authored by Richey Piiparinen, Jim Russell, and Charlie Post. read more »
After approving yet another general budget stopgap for highway construction in July, legislators across the country are acknowledging the obvious: The Federal Highway Trust Fund, the primary pot of federal roadway dollars, is nearly out of gas. read more »