America’s Opportunity City: Lots of New Jobs and a Low Cost of Living Make Houston a Middle-class …

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Appearing in:

The City Journal

David Wolff and David Hightower are driving down the partially completed Grand Parkway around Houston. The vast road, when completed, will add a third freeway loop around this booming, 600-square-mile Texas metropolis. Urban aesthetes on the ocean coasts tend to have a low opinion of the flat Texas landscape—and of Houston, in particular, which they see as a little slice of Hades: a hot, humid, and featureless expanse of flood-prone grassland, punctuated only by drab office towers and suburban tract houses. But Wolff and Hightower, major land developers on Houston’s outskirts for four decades, have a different outlook. “We may not have all the scenery of a place like California,” notes the 73-year-old Wolff, who is also part owner of the San Francisco Giants. “But growth makes up for a lot of imperfections.” Read more

Growth, Not Redistribution the Cure for Income Inequality

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Appearing in:

Orange County Register

Ever since the publication this spring of Thomas Piketty’s book “Capital in the 21st Century,” conservatives and much of the business press, such as the Financial Times, have been on a jihad to discredit the author and his findings about increased income inequality in Western societies. Some have even equated growing attacks on inequality with anti-Semitism, with at least one Silicon Valley venture capitalist, Tom Perkins, comparing anti-inequality campaigners to Nazis.

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There Will Be No Real Recovery Without The Middle Class

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Appearing in:

Forbes

What if they gave a recovery, and the middle class were never invited? Well, that’s an experiment we are running now, and, even with the recent strengthening of the jobs market, it’s not looking very good.

Over the last five years, Wall Street and the investor class have been on a bull run, but the economy has been, at best, torpid for the vast majority of the population. Despite blather about our “democratic capitalism,” stock ownership is increasingly concentrated with the wealthy as the middle class retrenches. The big returns that hedge funds, real estate trusts or venture capitalist receive are simply outside the reach of the vast majority.

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Energy Preferences to Play Big Role in November

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Appearing in:

Orange County Register

The November election will be played out along all the usual social memes – from gay marriage, racism and immigration to the “war against women.” But what may determine the outcome revolves around one key economic issue: energy. This has all come to a boil now as President Obama has backed an Environmental Protection Agency effort to accelerate tougher emissions standards, something that could shutter hundreds of coal-fired power plants and slow fossil fuel development across the country.

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Dawn of the Age of Oligarchy: the Alliance between Government and the 1%

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Appearing in:

The Daily Beast

When our current President was elected, many progressives saw the dawning of a new epoch, a more egalitarian and more just Age of Obama. Instead we have witnessed the emergence of the Age of Oligarchy.

The outlines of this new epoch are clear in numerous ways. There is the diminished role for small business, greater concentration of financial assets, and a troubling decline in home ownership. On a cultural level, there is a general malaise about the prospect for upward mobility for future generations.

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European Style Going Out of Fashion at Ballot Box

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Appearing in:

Orange County Register

The recent political earthquake in Europe has great implications for the United States, both internationally and domestically. The unpopularity of European Union institutions produced record-breaking votes for a motley assortment of anti-establishment parties across the Continent, suggesting it’s time to stop looking across the Atlantic for role models as Europe’s dismal prospects have inspired the lowest levels of political support in several decades.

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California’s Choice – Growth or Decline

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Appearing in:

Orange County Register

I’ve been friends with Charlie Sena for almost two decades. Charlie, a longtime entrepreneur, Democratic political operative and fundraiser for former Gov. Gray Davis, recently chided me about what he sees as my “negativity” about California and its future. My response was that, given its natural advantages, this region should not be in such a weakened condition. Decline, I suggest, is not an imperative here, but largely a choice.

Last week, I decided to confront this issue over lunch at Citrus Grille in Orange, just down the block from Chapman University, where I teach. Charlie noted that the negative points I was making were correct, but I owed it to the readers to “write a piece on why California can be, and should be, a state with the right climate for business growth.” Read more

Watch What You Say, The New Liberal Power Elite Won’t Tolerate Dissent

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Appearing in:

The Daily Beast

In ways not seen since at least the McCarthy era, Americans are finding themselves increasingly constrained by a rising class—what I call the progressive Clerisy—that accepts no dissent from its basic tenets. Like the First Estate in pre-revolutionary France, the Clerisy increasingly exercises its power to constrain dissenting views, whether on politics, social attitudes or science.

An alliance of upper level bureaucrats and cultural elites, the Clerisy, for for all their concerns about inequality, have thrived, unlike most Americans, in recent years. They also enjoy strong relations with the power structure in Washington, Silicon Valley, Hollywood and Wall Street. Read more

Pandering to the Minority Vote

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Appearing in:

Orange County Register

As they approach what could be a troublesome election season, Democratic party strategists have targeted two issues – inequality and race – as their primary means to prevent another shellacking in the mid-terms.

But given the growing dominance of wealthy and overwhelmingly white gentry liberals, the class issue could prove troublesome, particularly given the tepid performance of the economy. Read more

Three-headed Democratic Party

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Appearing in:

Orange County Register

As they face the midterm elections with the wind in their faces, Democrats increasingly stake their collective political future on the issue of inequality. The topic has great resonance, given the economy’s vast preponderance of benefits to the very rich and the almost obsessive focus on the issue by the mainstream media.

But if raising the class-warfare flag gives Democrats at least hope for avoiding a 2010-style shellacking, it also threatens to open up huge, and potentially irreconcilable, differences within the party. Unlike with social issues, where the party is relatively united, class divides threaten party unity by pitting its different constituencies against each other. Read more