General Electric, unhappy with a recent corporate tax increase in Connecticut, has now announced that it is relocating to Boston’s south waterfront. Indeed Connecticut’s tax climate is bad, ranking 44th according to the Tax Foundation, but GE’s move points to much bigger problems in the state.  I examine this in my new piece over at City Journal. Here’s an excerpt:  read more »

Every now and then, something happens to cause California’s comfortable establishment to celebrate the state’s economy.  Recent budget surpluses and jobs data have provided several opportunities, never mind that these are hardly summary statistics.  They don’t tell the complete story.  read more »

The massive construction waste collapse last month in Shenzhen reflects a wider phenomenon: the waning of the megacity era. Shenzhen became a megacity (population over 10 million) faster than any other in history, epitomizing the massive movement of Chinese to cities over the past four decades. Now it appears more like a testament to extravagant delusion.  read more »

When China’s navy looks beyond its coastal waters, which it increasingly does, it sees a kind of Great Wall. The Chinese call this the “First Island Chain,” a line of islands, some small, others huge, extending from the Japan archipelago to the north, the Ryuku island chain past Taiwan, and the Philippines to the south. The waters within this arc are considered an integral part of China itself.  read more »

Which cities have the best chance to prosper in the coming decade? The question is a complex one, and as the economy changes, so, too, will the best-positioned cities.  read more »

The 2015 state population estimates, recently released by the Census Bureau, indicate that interstate annual migration has begun to surge again. Between July 1, 2014 to June 30, 2015, up to 0.24% of US residents have migrated, returning to levels not experienced since the early 2000s. Interstate migration was just below the 2004 level of 0.25%, but trailed the much higher 2005 and 2006 levels (0.31% and 0.42%). By 2011, after the devastation of the housing bust and the Great Financial Crisis, interstate migration fell to 0.13% (Figure 1).  read more »

While the white working class is shrinking in the US, it remains the largest voting block in the country. That may be why leaders of both parties are concerned that white working-class voters, especially in the Midwest and South, are supporting populist candidates like Donald Trump and Bernie Sanders. They don’t understand that many of these voters blame Wall Street, corporate leaders, and politicians – the East Coast establishment –for destroying their jobs and communities over the past few decades.  read more »

In presidential election years, it is natural to see our political leaders also as the brokers of our economic salvation. Some, such as columnist Harold Meyerson, long have embraced politics as a primary lever of upward mobility for minorities. He has positively contrasted the rise of Latino politicians in California, and particularly Los Angeles, with the relative dearth of top Latino office-holders in heavily Hispanic Texas.  read more »

Compared to what? That’s the question I kept asking myself as I explored Dubai for the second time. Like many people I have serious concerns about the glistening new city-state. But in the end I’ve decided that it’s all really a matter of degree, not kind. I came to this conclusion unexpectedly and begrudgingly.  read more »

There is an emerging consensus about the destructiveness of excessive land use regulation, both with respect to its impact on housing affordability but also its overall impacts on economies. This is most evident in a recent New Zealand commentary.

New Zealand

Both the center-Left and center-Right have come together in agreement on the depth of New Zealand's housing affordability and its principal cause, overly restrictive urban planning regulations.  read more »