If this undisguised reality series played by Hollywood rules, it would have already been canceled. The President Trump show has failed to grow its audience, and the reviews, even from the mildly sympathetic, are consistently bad.
Little over a decade ago, the housing sector almost brought down not only the American but the world economy. Today the reprise of the housing crisis will be playing a very different tune.
The rise of automation and artificial intelligence is keeping many Americans up at night, worrying about their jobs, and certainly those of their children. The World Bank predicts that 57 percent of all jobs in developed countries could be automated in the next two decades. Some studies suggest that almost half of all current jobs will be made redundant while others suggest that past technological innovation created enough new jobs to make for those lost.
Even as many Americans look with horror on the authoritarian blusterer in the White House, we are slowly succumbing to a more pernicious, less obvious and far more lasting tech oligarchy gaining ever more control over our economy, culture and politics.
“We are certainly looking at bringing antitrust cases against Amazon, Facebook and Google,” Trump said in an interview just before the election, adding that he’s had “so many people” warning him about their overwhelming power.
Unreliable narrator though the President may be, people are indeed waking up to the tech giants’ massive and largely unchecked power, and the consequences of turning over our channels of communication to them. Read more
America seems to be heading inexorably toward a Weimar moment, a slide toward political polarization from which it could be increasingly difficult to return. Weimar — that brief, brilliant and tragic German republic of the 1920s — was replaced by Hitler’s murderous regime in 1933.
The Middle East may well be the birthplace of cities, and maybe capitalism itself, but for the most part, it continues to lag in developing a modern, workable urbanism. Yes, the region has produced high-tech hubs (e.g., Tel Aviv) and postmodern cities (e.g., Dubai), which can be regarded as rising international business centers, but it’s also home to megacities afflicted by mismanagement, poor planning, and some of the world’s highest unemployment rates. In some countries, like Saudi Arabia, and many of the Gulf States, there is also a chronic shortage of homegrown labor willing to work.
Ever since the election of Donald Trump, many of our leading academic voices, like Paul Krugman, predicted everything from a stock market crash to a global recession. Slow growth, mainstream economists like Larry Summers, argued, was in the cards no matter who is in charge. That was then. Now the United States stands as by far the most dynamic high-income economy in the world. Read more
This article first appeared at The Daily Beast.
The collapse of Lehman Brothers 10 years ago today began the financial crisis that crippled and even killed for some the American dream as we had known it. Donald Trump might be starting to change that, at least for Americans who aren’t determined to remain in our bluest and priciest cities. Read more
Where do we go after Trump? This question becomes more pertinent as the soap opera administration seeks its own dramatic demise. Yet before they can seize power from the president and his now subservient party, the Democrats need to agree on what will replace Trumpism.
Conventional wisdom implies an endless battle between pragmatic, corporate Clintonites on one side, and Democratic socialists of the Bernie brand. Yet this conflict could resolve itself in a new, innovative approach that could be best described as oligarchal socialism.
This article first appeared at City Journal.
America’s most opportunity-rich city faces a long-term challenge from “smart-growth” advocates pushing for more regulation.
Over the last half-century, Houston has developed an alternative model of urbanism. As the New Urbanist punditry mounts an assault on both suburban growth and single-family homes, Houston has embraced a light regulatory approach that reflects market forces more than ideology. But last year’s Hurricane Harvey floods severely tested the Houston model. An unprecedented four feet of rain in four days —a year’s worth, the greatest rainfall event in recorded U.S. history—overflowed the banks of every channel in Harris County, flooded nearly 100,000 homes (7 percent of the housing stock), and created an estimated $81.5 billion in damage, the nation’s second-largest natural disaster after Hurricane Katrina. Coupled with a downturn in the energy industry, which saw the loss of some 86,000 jobs last year, Harvey’s aftermath suggested that the region’s growth period had come to an end, with stagnant job growth and domestic migration. Read more
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