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 »
The recently released estimates of population change and the natural increase and migration components of that change for 2010-2011 contain a few surprises, as well as much what has come to be expected. What we population freaks have been awaiting are estimates of the components of change for the whole 2000-2010 decade, but these are still being adjusted, in part because of the tremendous complexity of migration and immigration and, yes, estimating just who is in the country! 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 »
Over the past months as the global economy heads for another recession, U.S. lawmakers have done their best to deflect blame by focusing on various external forces including the most popular straw-man of the day: China’s currency.
Almost every year for the last few years, Congress and the White House have pressed China to revalue its currency, the renminbi. And every time this happens, China responds that it will do what it always does: let it appreciate gradually, at about 5% per year as it has done for the last several years. 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 »