Economics

More than at any other time in recent memory, American politics now are centered on class and the declining prospects of the middle class. This is no longer just an issue for longtime leftists or Democratic or right-wing propagandists. It’s a reality so large that even the most detached and self-satisfied Republicans must acknowledge it.

The Left’s new superstar, New York City Mayor Bill de Blasio, identifies inequality as “the dominant issue in our public discourse” but similar assessments have recently been coming from such unlikely sources as GOP Senate Majority Leader Mitch McConnell, Jeb Bush and even Mitt Romney.  read more »

In the years after the Cold War, much was written about Europe’s emergence as the third great force in the global political economy, alongside Asia and the United States. Some, such as former French President Francois Mitterand’s eminence grise Jacques Attali, went even further: in his 1991 book Millenium Attali predicted that in the 21st century, “Japan and Europe may supplant the United States as the chief superpowers.”  read more »

Although inequality is the current focus of concern with income, it is in the end a story of the rich, the middle and the poor, who of course have not gone away.  It is valuable to remind ourselves, particularly the young, about how pervasive poverty was 50 years ago, how poverty declined markedly between 1960 and 1980, after which it has risen again. Most important is to understand what led to the poverty reduction between 1960 and 1980, in order to further understand the power and lure of forces which would return us to the good old days of 1960, or before!.  read more »

I have a theory about where the next culturally dynamic neighborhoods are likely to emerge and which building types will be the engine of that transformation. It may not be exactly what most people expect.  read more »

In the last decade, Texas emerged as America’s new land of opportunity — if you will, America’s America. Since the start of the recession, the Lone Star State has been responsible for the majority of employment growth in the country. Between November  2007 and November 2014, the United States gained  a net 2.1 million jobs, with 1.2 million alone in Texas.  read more »

Do the middle class and working class have a future in the Southland? If they do, that future will be largely determined in the Inland Empire, the one corner of Southern California that seems able to accommodate large-scale growth in population and jobs. If Southern California’s economy is going to grow, it will need a strong Inland Empire.

The calculation starts with the basics of the labor market. Simply put, Los Angeles and Orange counties mostly have become too expensive for many middle-skilled workers. The Riverside-San Bernardino area has emerged as a key labor supplier to the coastal counties, with upward of 15 percent to 25 percent of workers commuting to the coastal counties.

In a new report recently released by National Core, a Rancho Cucamonga nonprofit that develops low-income housing, I and my colleagues, demographer Wendell Cox and analyst Mark Schill, explored the challenges facing the region.  read more »

Since 1980, the percentage of Americans who claim Hispanic heritage has grown from 6% to 17%. By 2040, Latinos will constitute roughly 24% of the population.

Many Democrats no doubt see President Obama’s executive actions on immigration as a step not only to address legitimate human needs, but their own political future. But perhaps a more important question is how these new Americans will fare economically.  read more »

The blue team may have lost the political battle last year, but with the rapid fall of oil and commodity prices, they have temporarily gained the upper hand economically. Simultaneously, conditions have become more problematical for those interior states, notably Texas and North Dakota, that have benefited from the fossil fuel energy boom. And if the Obama administration gets its way, they are about to get tougher.  read more »

A frequent and entirely valid point made by representatives of public sector unions is that their membership, government workers, need to be able to afford to live in the cities and communities they serve. The problem with that argument, however, is that nobody can afford to live in these cities and communities, especially in California.  read more »

California, after nearly five years in recession, has made something of a comeback in recent years. Job growth in the state – largely due to the Silicon Valley boom – has even begun to outpace the national average. The state, finally, appears to have finally recovered the jobs lost since 2007.

To some, this makes California what someone called “a beacon of hope for progressives.” Its “comeback” has been dutifully noted and applauded by economist Paul Krugman, high priest of what passes for the American Left.  read more »