Economics

The salary gap – where top-end incomes are rising faster than middle- and lower-end salaries – plays a large role in the affordability of middle-class housing along with interest rates and prices. Which factor has more influence depends on where you live and how you make your living.  read more »

Blessed by Pope Francis, the drive to wipe out fossil fuels, notes activist Bill McKibben, now has “the wind in its sails.” Setting aside the bizarre alliance of the Roman Catholic Church with secularists such as McKibben, who favor severe limits of family size as an environmental imperative, this  read more »

For the last century, one enduring cliché has been that when America sneezes, the world catches a cold. But now the big power with the sniffles is China.

China’s rise has been the most profound development of the past half century, turning a moribund, rural country into a highly urbanized economic superpower. Hundreds of millions have been lifted out of poverty, and markets around the world reshaped. China alone accounted for a whopping 24.1% of global economic growth from 2003 to 2013. according to the IMF.  read more »

Last year (2014), China overtook the United States in gross domestic product adjusted for purchasing power (GDP-PPP, see point 4 for explanation), according to both the International Monetary Fund (IMF) and the World Bank (Note 1).  read more »

Going into the silly-season of US Presidential campaigning, I want to get a head start on updating the “Are you better off today than you were four years ago?” discussion. In an April 2009 ng article, Rogue Treasury, I compared measures of our economic well-being before and after passage of the Emergency Economic Stabilization Act of 2008.  read more »

Many analysts—usually planners—have been regularly offering a wealth of exhortations concerning how uneconomical it is to purchase, operate and maintain a private car. Is this a valid assertion of a household economic burden? And what is the likelihood that the advice will ultimately prove useful?  read more »

For generations the broad swath of America along the Great Lakes has been regarded as something of a backwater. Educated workers and sophisticated industries have tended to gather in the Northeast and on the West Coast, bringing with them strong economic growth.  read more »

As its former rivals in Asia and Europe slip into torpor and even decline, America, almost despite itself, is recovering its perch as the world’s bastion and predominant power. This is all the more remarkable given that our government is headed by someone who largely rejects traditional ideas about American exceptionalism, preferring to “lead from behind.”  read more »

The election of Barack Obama promised to inaugurate the dawn of a post-racial America. Instead we seem to be stepping ever deeper into a racial quagmire. The past two month saw the violent commemoration of the Ferguson protests, “the celebration” of the 50th anniversary of the Watts riots, new police shootings in places as distant as Cincinnati and Fort Worth, and renewed disorder, tied to a police-related shooting, in St. Louis last week.  read more »

I recently made a couple of tweets/Facebook posts pointing out that market declines threaten California’s budget surplus. I referenced articles in the WSJ and Bloomberg, and I thought the observation was non-controversial—almost banal.  read more »