Tag Archive for: middle class

Why Suburbia Will Decide the Future

Welcome to the future of American politics. The US population is changing in major ways that will likely alter the balance in politics and economics to the advantage of Republican-leaning red states, as well as suburbs and exurbs across the country.

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Free Trade’s Heavy Cost

Free trade and open markets are great ideals. These principles, over the last few centuries, but especially since World War II, have created tremendous wealth, particularly in the developing world. But free markets were made for human society, not the other way around.

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Green Dreams, Inflationary Realities

Global policy and politics, particularly in the high-income world, have been obsessed with dreams of a green economy. Imposing ever-more rigid methods to reduce greenhouse gas emissions as the way to “save the planet” is almost unchallenged in the media, academia, and corporate boardrooms of the developed world. The results on the ground have been less convincing, as the price of everything—from energy and food to construction costs—rises to unsustainable levels Read more

The Cost of Biden’s Racialism

Joe Biden may have once bragged about his cooperative relations with segregationists, but he still arguably owes more to African-American leadership and voters than any politician in recent history. After all, it was black voters who bequeathed him the two critical victories in South Carolina and Georgia that led to his nomination in 2020. Perhaps that’s why he promised in his inaugural address to focus on the “sting of systemic racism” and fight encroaching “white supremacy.”

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How the Boomers Robbed the Young of All Hope

“Young people do not degenerate; this occurs only after grown men have already become corrupt.”Montesquieu, The Spirit of Laws, 1748.

The great test of a generation is whether it leaves better prospects for its descendants. Yet by virtually every indication, the baby boomers, and even the Gen Xers, are leaving a heritage of economic carnage – as well as a growing social and cultural dissipation that could shape our future and the fate of democratic self-rule, and not for the better. This legacy comes not from outside forces, but the investment bankers, tech oligarchs and their partners in the clerisy who have weakened their national economies and undermined the chances of upward mobility for most young people.

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Joel Kotkin Talks with Anthony Furey: Payback Against Political Elites

By: Anthony Furey
On: The Full Comment

Voters around the world are saying they’re angry. They’re unhappy that the promise of upward mobility is over and they’re frustrated that government policies animated by elitist values keep making life harder for the middle and working classes, Joel Kotkin tells Anthony Furey this week. Younger voters around the world are already flocking to more extremist solutions after feeling abandoned by the establishment, explains Kotkin, a noted authority on global economic, political and social trends from California’s Chapman University. It’s all creating a powerful political volcano, he says, and the explosion won’t be pleasant. (Recorded April 28, 2022)

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Joel Kotkin Talks with Jane Wells about Economic Impact of Ending Roe v. Wade

By: Jane Wells
On: Wells Street

How will the likely ending of Roe v. Wade affect corporate relocation decisions? Companies have been leaving, too. Stanford’s Hoover Institution reports 265 businesses relocated their headquarters outside California from 2018 through the first half of last year, including Oracle, Schwab, and CBRE.

Most of those companies moved to Texas, where abortion is currently banned after about six weeks of pregnancy. Elon Musk moved Tesla’s headquarters to Texas, along with one of his other ventures, The Boring Company. Could SpaceX follow? One can only imagine what Twitter employees in San Francisco are thinking. “I’m not moving to Texas, especially not now.”

“The Roe decision will probably have more impact on highly educated white women than minorities,” says Joel Kotkin. “They [are] more likely to be able to afford living in some of the more expensive blue states.”

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What the New York Times Won’t Admit About California

Even the New York Times has to admit unpleasant realities, like the departure of people from California and other deep blue states. But one thing the paper, and other similarly-minded reporters based here, will never admit: the connection between the California economy and regulation and the rising out-migrations.

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California’s Vanished Dreams, By the Numbers

Even today amid a mounting exodus among those who can afford it, and with its appeal diminished to businesses and newcomers, California, legendary state of American dreams, continues to inspire optimism among progressive boosters.

Laura Tyson, the longtime Democratic economist now at the University of California at Berkeley, praises the state for creating “the way forward” to a more enlightened “market capitalism.” Like-minded analysts tout Silicon Valley’s massive wealth generation as evidence of progressivism’s promise. The Los Angeles Times suggested approvingly that the Biden administration’s goal is to “make America California again.” And, despite dark prospects in November’s midterm elections, the President and his party still seem intent on proving it.

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Texas Is The Future

In 1946, the American author John Gunther described Houston as “mostly ugly and barren, without a single good restaurant and hotels with cockroaches”. The only reasons to live in the city, he claimed, were financial; it was a place “where few people think about anything but money”.

This view was widespread at the time, and has lingered well into the 21st century. Forget Houston. New York, Chicago, San Francisco, and Los Angeles are the cities most frequently associated with the urban American dream.

Fast forward to today, however, and a new urban renaissance is taking shape — and this time, it’s in the heart of Texas. Never before in American history have two metros in one state — Houston and Dallas-Ft. Worth — been in the nation’s five largest. So much for its cockroaches; at its current rate of growth, Houston could replace Chicago as the nation’s third largest municipality by 2030.

What’s driving this Texan resurgence? Traditionally, American cities such as Detroit, Cleveland, and St. Louis all tried to copy the model set by New York and, to a lesser extent, Chicago, with high-rise offices crowded into central business districts. But Texas urbanism is different. They may wear cowboy boots, drive pickup trucks, and attend rodeos, but Texans have created a new model of American urbanity rooted in the demands of the consumer market — an idea deeply offensive to many planners and retro-urbanists.

Some observers lament the fact that the vast majority of Texas’s metropolitan growth — nearly 100% — has taken place in the suburbs and exurbs. But this has its benefits, not least the fact that its cities haven’t been turned into rabbit warrens that only provide high living standards to the rich. Over the past decade, Texas has built three times as much housing as California. This has allowed its cities, despite massive demographic and economic growth, to keep housing prices significantly lower than in coastal Californian cities such as San Francisco, San Jose, San Diego and Los Angeles.

But while affordability has been the secret sauce for Texan cities, its urbanism also thrives by embracing the realities of the marketplace. Over the past decade, Austin and Dallas have created jobs two to three times faster than New York, Los Angeles, or Chicago. And this growth is not all at the low end of the job market, as some like the New York Times’s Paul Krugman suggest. Over the past five years, for instance, Austin has displaced San Francisco as the fastest growing tech market. Indeed, Austin is now arguably the strongest rival to Silicon Valley, home to the headquarters of Tesla, and Oracle, as well as Apple’s engineering division and Meta’s latest expansion, 33 floors downtown.

But the most significant expansion has been in professional and business services, the core of the new urban economy. Over the past five years, Austin and Dallas-Ft. Worth have created more than twice as many new business service jobs as San Jose; all four big Texas cities have grown this sector many times the rate of New York, Los Angeles, or Chicago. The Dallas metroplex is now home to 24 Fortune 500 company headquarters, trailing only New York and Chicago by a small number; 40 years ago, the region had fewer than five.

Read the rest of this piece at UnHerd.


Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Roger Hobbs 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.

Homepage photo: from PxHere under CC 0.0 Public Domain.