Economics

The mess in Washington underscores the harsh reality that our national fissures aren't going to be healed any time soon – if ever. Among other things, that means America will have to progress on the local and regional levels, where people actually live, whatever happens on the fractured plane of national identity and politics.

Call it a new localism.  read more »

Now that Trump has been edged out of office, Joe Biden may emerge as the harbinger of a brighter, better blue future or as a version of Konstantin Chernenko, the aged timeserver who ran the Soviet Union in its dying days. To succeed, he will have to confront massive pessimism about America’s direction, with some 80 percent thinking the country is out of control. The Atlantic last year compared the U.S. to a “failed state,” while The Week predicts “dark days ahead.”  read more »

Predictably, politicos and commentators spent much of 2020 debating why working-class voters supported Trump and how the Democrats could win them back. Although we’ve occasionally contributed to these conversations, we’re also getting tired of them. They tend to envision “the working class” as if it were one group with a well-defined set of interests, and worse, they treat working-class people as a marketing problem.  read more »

More studies have been published indicating that telecommuting is likely to be far more important after the pandemic than it was before. A University of Chicago study published early this month concluded that “22 percent of all full work days will be supplied from home after the pandemic ends, compared with just 5 percent before.”  read more »

For the past half-century, California has dominated America’s tech industry. From the development of precision farming to the incubation of aircraft, space, semiconductors and computer systems, this state has emerged time and again at the cutting edge of future industries.  read more »

The rapid transformation of the U.S. economy to “remote” during the pandemic—a switchover likely to endure in many respects after vaccinated immunity to Covid-19 is reasonably achieved—is gigantic testimony to the private sector’s adaptability.  read more »

A crazy week with a *ton* of new items I'll only be able to partially get through in this post, including some followups to last week's post about California tech companies moving to Texas:  read more »

A “resort” community where there is no central commercial resort can still be a one-industry economy. In the case of the South Fork of Long Island (aka “Hamptons”), the one trick is luxury housing. There’s an extensive commercial/labor ecosystem to support it.  read more »

I recently got a detailed email from a friend in the Pacific Northwest outlining a possible venture she and her husband are considering. I was one of several people they asked to review the proposal.  read more »

It’s hard to say the word “innovation” and not think of California. Technology has paced the state’s growth in everything from agriculture and oil to housing, entertainment, and aerospace. California has always been the harbinger of the American future, the promise of ever-greater economic and social progress.  read more »