The first decade of the new millennium was particularly hard on the US economy. First, there was the recession that followed the attacks of 9/11. That was followed by the housing bust and the resulting Great Financial Crisis, which was the most severe economic decline since the Great Depression. read more »
Undoubtedly, America is a middle class nation. But are there problems in the middle? It would certainly seem so: reduced employment, income and wealth (more worryingly, reduced employment, income- and wealth-building opportunities); reduced prospects for generational advancement (kids are supposed to do better than their parents, right?); general feelings of stagnation, “on the wrong track,” pessimism, frustration and anger.
Are these cyclical or structural changes? What are the causes, and what are the cures? read more »
Different is not necessarily better or worse. I took notice of this upon moving from the Echo Park district of Los Angeles to Irvine. Some acquaintances and casual observers viewed it as a shift from ground zero of hipster chic to the center of conformity. Neither comes close to capturing the truth about either place.
Irvine is very different from Echo Park—not necessarily better or worse. That’s my point of view as a resident who appreciates aspects of both places. read more »
In the next two years, America’s large cities will face the greatest existential crisis in a generation. Municipal bonds are in the tank, having just suffered the worst quarterly performance in more than 16 years, a sign of flagging interest in urban debt. read more »
Earlier this month President Obama signed the reauthorization of the COMPETES Act, which provides federal funding for science initiatives aimed at enhancing economic competitiveness. In addition to shoring up agencies like the National Science Foundation, the bill called on the Department of Commerce to create a new program charged with supporting the development of research parks and regional innovation clusters. Unheard of before World War II, these entities today represent the cutting edge in what insiders call TBED: technology-based economic development. read more »
When Chinese President Hu Jintao comes to Washington this week, there aren't likely to be many surprises: Hu and Barack Obama will probably keep their conversation to a fairly regulated script, focusing on trade and North Korea and offering the expected viewpoints on both. But seen from a different angle, everything in that conversation could be predicted, not from current events but from longstanding tribal patterns. read more »
Florida's Tampa to Orlando high-speed rail project could be barreling down the tracks toward taxpayer obligations many times the $280 million currently advertised. That is the conclusion of my Reason Foundation report, The Tampa to Orlando High-Speed Rail Project: Florida Taxpayer Risk Assessment. read more »
As a corrective for the struggles of American diplomacy, I am surprised that no one has proposed mothballing Air Force One. The jet of state is almost the perfect symbol of modern presidents, who fly around the world as if on a magic carpet, but come home with little more than passport stamps. In recent months, President Obama has flown to Indonesia, India, South Korea, Japan, Portugal, Iraq, and Hawaii, but, other than for his Christmas vacation, the reasons for any of these trips are a blur. read more »
In many ways, these are the best of times for rural America. Rising commodity prices for food, fiber and energy have revived the economy in much of the nation’s heartland. But still, many rural communities still are losing population, particularly among the young, and suffering unacceptably high rates of poverty. What accounts for this “best of times, worst of times” scenario? read more »
When I began my land planning career in 1968, one of the first things I learned about was the use of the Rubber Scale. What is it? Rubber Scale was a term used by civil engineers and land surveyors to describe an inaccurate plan that ignored the physical limitations of the existing terrain. To say that the planner or architect had used a Rubber Scale to create a beautifully rendered plan with pastel colors and soft shadows cast from tree stamps was a negative comment, since these plans were pretty much worthless to the engineer and surveyor that had to make the plans conform to regulations. read more »