Economics

A new class of overlords are making their bid for world domination.

The Coronavirus has trammeled the prospects of most Americans, particularly low-income workers. But for one small group, the pandemic has proved something like manna from heaven. Already ascendant beforehand, the tech oligarchy—a relatively small number of companies, venture, and private equity funds—are riding the current crisis to unprecedented dominion over our ever-weakening Republic.  read more »

We have two narratives about class in this country. Perhaps the most prominent is the American Dream – the idea that hard work and moral fortitude can lead people from rages to riches. The second is that of the rigged class system, one designed to ensure that the privileged remain privileged while the poor remain poor.  read more »

News reports say that the Trump Administration is going to propose a $1 trillion infrastructure plan to “boost the economy.” One writer says it will not only promote recovery but also help the environment.  read more »

To the detriment of those that can least afford expensive energy, California climate policies have driven up the cost of electricity and fuels to be among the highest in the country. The cost burdens of those policies may be fueling (no pun intended) the basis of a rebellion as the state’s climate policies discriminate against minority and low-income consumers.  read more »

As I am writing this article, South Africa is predicted, following the coronavirus crises, to have an unemployment rate of 50% i.e. 1 in 2 working adults .The country’s lockdown has now been longer than the one in authoritarian China and to make matters worse, South Africa’s credit rating has been recently downgraded by agencies such as Fitch, Standard and Poor, and Moody’s.  read more »

Like many contemporary social movements—#metoo, Black Lives Matter, the Women’s March—the environmental lobby has tended to create an atmosphere of unanimity. In its struggle to win public and elite opinion, it has frequently evoked “science” as something settled and immutable, warning that those who dissent are either self-serving or seriously deranged.  read more »

New Census Bureau employment data indicates that most job creation in the nation’s 53 major metropolitan areas (over 1,000,000 population) continues to be in the suburbs and exurbs. This article describes employment (job) locations by urban sector, using the City Sector Model (described in the Note Figure 4, below). The source of the data is “County Business Patterns, which is published annually for every zip code in the nation, which is unlike the American Community Survey, which uses a five-year period to cover all areas of the nation.  read more »

From the beginning, California promised much. While yet barely a name on the map, it entered American awareness as a symbol of renewal. It was a final frontier: of geography and of expectation.
—Kevin Starr, Americans and the California Dream: 1850–1915  read more »

When I tell other middle-class professionals who don’t know me well that I’m writing a book about working-class culture, it’s amazing how often they respond approvingly that “white racism” is an important subject.  My reaction, depending on the circumstance, ranges from embarrassment to rage.  read more »

COVID-19 lockdown and social distancing strategies have led to a huge increase in the number of people working at home (working remotely). According to Gallup, by mid-April, 62% of US employees were working at home. Further, Gallup found that about half of the remote workers preferred to continue working from home, with another quarter interested in remote working out of pandemic fears.  read more »