Tag Archive for: economics

Gavin Newsom Won His Recall. What’s Next for California?

What started as a lark, then became an impossible dream—a conservative resurgence, starting in California—ended, like many past efforts, in electoral defeat. With his overwhelming victory in the recall election, California governor Gavin Newsom and his backers have consolidated their hold on the state for the foreseeable future.

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Feudal Future Podcast – The Reshoring Revolution

On this episode of Feudal Future, hosts Joel Kotkin and Marshall Toplansky are joined by JR Turner, Michelle Comerford, and Harry Moser to discuss the practice of reshoring, or bringing manufacturing back to the United States.

Feudal Future Podcast – Inside the Republic of China

On this episode of Feudal Future, hosts Joel Kotkin and Marshall Toplansky are joined by Leading Historian Ross Terrill, to discuss the history and likely future of the Republic of China.

Feudal Future Podcast – The Crisis on Labor

On this episode of Feudal Future, hosts Joel Kotkin and Marshall Toplansky are joined by Robyn Domber, Lane Windham and Michael Bernick to discuss the crisis on labor shortages.

Feudal Future Podcast – What Works Best? Working from Home vs. Working in the Office

On this episode of Feudal Future, hosts Joel Kotkin and Marshall Toplansky are joined by Doug Holte, Kate Lister, and Andrew Segal to discuss work post-pandemic.

Dumb and Dumber

By: Jane Wells
On: Wells Street

One of the funny things about being human is that no matter how successful we are, we always end up doing something stupid. I prove this point hourly. The hope is that over time we learn from our mistakes and don’t repeat them.

But who am I kidding?

So let’s get to it! Here’s a summary of dumb moves from Wall Street to Main Street to Tokyo. Read more

Millennials Are a Lot Less Progressive Than You Think

Millennials have long been cast as the great progressive hope, or “New Progressive America: The Millennial Generation,” as one study would have it. 25- to 40-year-old Americans, already the largest portion of the current adult population, have been cast by progressives as “a hero generation” that will escape the material trappings of their Boomer parents’ suburban lives and pull American politics far to the Left.

To be sure, millennials are the most Democratic-leaning of generations, as the Pew Research Center found; they have close to a 60 percent fealty to Democrats, and their votes clearly helped get rid of Donald Trump. So it’s fitting that their avatar is the congressional “Squad” led by the ubiquitous 30-year-old Rep. Alexandria Ocasio-Cortez, one of their own.

It’s also undeniable that the ideological cast of millennials, who will be the largest voting block by 2024, will shape our political future. But a closer look at millennial attitudes suggests that the difference between their lives and the lives of their parents is not always by design, and that given the choice, many millennials would prefer to be parents and enjoy family life in the suburbs (and the attendant centrist politics) than be the “heroes” of a left-wing movement.

You can see this in the fact that millennials have been increasingly leaving big cities like New York, Los Angeles and Chicago for more conventional locales, as an analysis of the past decade found. Millennials have spent the past 10 years moving en masse to less expensive, redder metros in the Sunbelt and to the suburbs and exurbs of select Midwestern cities like Columbus, Des Moines and Indianapolis.

Millennials just aren’t the overwhelmingly enthusiastic urbanites that people say they are; big skies and small towns are in high demand for a significant number of younger Americans. Some 26 percent told researchers they would like to end up in small-town or rural America, while another 39 percent are headed for the suburbs. This even applies to better educated workers, nearly 70 percent of whom prefer suburban or small-town living. This pattern is strongest among whites and Latinos, but even among African Americans, roughly half opt for suburban living.

And this desire to leave cities is correlated strongly with marital status. Almost a third of married millennials want to move out to the country—compared to 21 percent of singles. It reflects a political divide between primarily childless, left-leaning urbanites and more conservative or centrist families on the periphery.

Reflecting their geographic diversity, millennials are also proving less uniformly Left than imagined, as Ruy Teixeira, author of The Optimistic Leftist, found; as they age and start families, millennials tend to focus more on economic improvement than abstract notions of cultural or social justice.

A poll of over 1,400 people sponsored by the Los Angeles Times and Reality Check Insights after the November 2020 elections revealed that a plurality of millennials consider themselves centrists. 50 percent are politically independent or lean only a bit in one direction, while another 16 percent are conservative. Just a third identify as liberal.

Read the rest of this piece at Newsweek.


Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Presidential Fellow in Urban Futures at Chapman University and Executive Director for Urban Reform Institute. Learn more at joelkotkin.com and follow him on Twitter @joelkotkin.

Samuel J. Abrams is professor of politics at Sarah Lawrence College and a visiting scholar at the American Enterprise Institute.

Photo: picjumbo via Pexels.

Feudal Future Podcast – Solutions to Anti-Semitism

On this episode of Feudal Future, hosts Joel Kotkin and Marshall Toplansky are joined by Susan Seely, Edward Hayman and Rabbi Eliezrie to discuss solutions to anti-semitism.

California Fleeing

Some longtime Californians view the continued net outmigration from their state as a worrisome sign, but most others in the Golden State’s media, academic, and political establishment dismiss this demographic decline as a “myth.” The Sacramento Bee suggests that it largely represents the “hate” felt toward the state by conservatives eager to undermine California’s progressive model. Local media and think tanks generally concede the migration losses but comfort themselves with the thought that California continues to attract top-tier talent and will remain an irrepressible superpower that boasts innovation, creativity, and massive capital accumulation.

Reality reveals a different picture. California may be a great state in many ways, but it also is clearly breaking bad. Since 2000, 2.6 million net domestic migrants, a population larger than the cities of San Francisco, San Diego, and Anaheim combined, have moved from California to other parts of the United States. (See Figure 1.) California has lost more people in each of the last two decades than any state except New York—and they’re not just those struggling to compete in the high-tech “new economy.” During the 2010s, the state’s growth in college-educated residents 25 and over did not keep up with the national rate of increase, putting California a mere 34th on this measure, behind such key competitors as Florida and Texas. California’s demographic woes are real, and they pose long-term challenges that need to be confronted.

Source: Derived from U.S. Census Bureau Estimates

Source: Derived from U.S. Census Bureau Estimates

The state has suffered net outmigration in every year of the twenty-first century, but its smallest losses occurred in the early 2000s and the years following the Great Recession, when housing affordability was closer to the national average. Home prices have risen since then—and so have departures. Between 2014 and 2020, net domestic outmigration rose from 46,000 to 242,000, according to Census Bureau estimates.

The outmigration does not seem to have reached a peak. Roughly half of state residents, according to a 2019 UC Berkeley poll, have considered leaving. In Los Angeles, according to a USC survey, 10 percent plan to move out this year. The most recent Census Bureau estimates show that California started falling behind national population growth in 2016 and went negative for the first time in modern history last year.

The comforting tale that only the old, bitter, and uneducated are moving out simply does not withstand scrutiny. An analysis of IRS data through 2019 confirms that increasing domestic migration is not dominated by the youngest or oldest households. Between 2012 and 2019, tax filers under 26 years old constituted only 4 percent of net domestic outmigrants. About 77 percent of the increase came among those in their prime earning years of 35 to 64. In 2019, 27 percent of net domestic migrants were aged 35 to 44, while 21 percent were aged 55 to 64. (See Figure 2.)

Source: IRS data

Source: IRS data

To be sure, the largest increase in net domestic migration was among those aged 65 and over. But the second-largest increase came in the 25 to 34 categories—with the state’s exorbitantly high cost of living the likely culprit.

Read the rest of this piece at City Journal.


Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Presidential Fellow in Urban Futures at Chapman University and Executive Director for Urban Reform Institute. Learn more at joelkotkin.com and follow him on Twitter @joelkotkin.

Wendell Cox is principal of Demographia, an international public policy firm located in the St. Louis metropolitan area. He is a founding senior fellow at the Urban Reform Institute, Houston, a Senior Fellow with the Frontier Centre for Public Policy in Winnipeg and a member of the Advisory Board of the Center for Demographics and Policy at Chapman University in Orange, California. He has served as a visiting professor at the Conservatoire National des Arts et Metiers in Paris. His principal interests are economics, poverty alleviation, demographics, urban policy and transport. He is co-author of the annual Demographia International Housing Affordability Survey and author of Demographia World Urban Areas.

Photo: Beatrice Murch, via Flickr under CC 2.0 License

Upward and Outward: America on the Move

These are times, to paraphrase Thomas Paine, that try the souls of American optimists. A strain of insane ideologies, from QAnon to critical race theory, is running through our societies like a virus, infecting everything from political life and media to the schoolroom. Unable to unite even in the face of COVID-19, the country seems to be losing the post-pandemic struggle with China while American society becomes ever more feudalized into separate, and permanently unequal, classes.

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