Economics

When American progressives dream their future vision of America, no place entices them more than the sparsely populated countries of Scandinavia. After all, here are countries that remain strongly democratic and successfully capitalist, yet appear to have done so despite enormously pervasive welfare systems.  read more »

The current housing recovery may be like manna to homeowners, but it may do little to ease a growing shortage of affordable residences, and could even make it worse. After a recession-generated drought, household formation is on the rise, notes a recent study by the Harvard Joint Center on Housing Studies, and in many markets there isn’t an adequate supply of housing for the working and middle classes.  read more »

What comes to mind when you think of Los Angeles’ big industries? Motion pictures and other entertainment sectors, yes. Real estate and corporate headquarters, too. But probably not manufacturing.

No other sector, however, contributes more to the Los Angeles metro area’s gross regional product – the final market value of all goods and services in a region – than manufacturing. It accounted for 11% of L.A.’s GRP in 2012, narrowly beating out the real estate and rental and leasing sector (10%).  read more »

As has long been expected, the city of Detroit has officially filed for bankruptcy.  While many will point to the sui generis nature of the city as a one-industry town with extreme racial polarization and other unique problems, Detroit’s bankruptcy in fact offers several lessons for other states and municipalities across America.  read more »

“'Angry young men' lack optimism.” This was the title of a BBC News story earlier this year, exploring the deeply pessimistic views that some young working class British hold about their own future. Two-thirds of the young men from families of skilled or semi-skilled workers, for example, never expect to own their own home. Angry young men, this time of immigrant origin, were also recently identified as the group causing riots in Swedish suburbs such as Husby.  read more »

Eighty years ago, the Tennessee Valley region was like many poor rural communities in tropical regions today. The best forests had been cut down to use as fuel for wood stoves. Soils were being rapidly depleted of nutrients, resulting in falling yields and a desperate search for new croplands. Poor farmers were plagued by malaria and had inadequate medical care. Few had indoor plumbing and even fewer had electricity.  read more »

For some students, the decision to enroll at a community college is simple. A two-year school offers the credential they need at a much lower cost than a university, and the earnings post-degree are on par with — or better than — what they would make after going to a four-year school.

Less debt, similar salary — the math adds up.  read more »

Pete Saunders recently described how, after being built in part with eastern money, West Coast outposts like San Francisco and Los Angeles never relinquished their East Coast connections. This created bi-coastal connectivity that continues to play dividends for both coast at the expense of relatively disconnected “flyover country.”  read more »

One hundred and fifty years after twin defeats at Gettysburg and Vicksburg destroyed the South’s quest for independence, the region is again on the rise. People and jobs are flowing there, and Northerners are perplexed by the resurgence of America’s home of the ignorant, the obese, the prejudiced and exploited, the religious and the undereducated.  read more »

We are entering a domain where looms a lost decade of income, growth and opportunity – and maybe it's time to address that fact.  read more »