New York City thriving
For nearly all of my getting close to forty year career I have heard about the imminent collapse of New York City. Those predictions were largely based on the twin beliefs that cities were part of the past (no longer competitive with the suburbs for middle class and affluent households) and low cost/small government places […]
Talent attraction in Oklahoma City
As we explored in our last post young professionals are concentrating in record numbers in vibrant central cities. Across the country––in red and blue states––state, regional, and city leaders understanding that where talent concentrates economic growth will follow, have made public investments in creating the kind of places that retain and attract recent college graduates […]
Central cities as talent magnets
What continues to worry me most about the future of Michigan is that our definition of what success looks like is grounded in the past. That we have not yet learned the lesson that what made us prosperous in the past, won’t in the future. A continuing vision of a factory-driven economy along with farming […]
Economic well being by education attainment
The evidence continues to pour in that those with a four-year degree or more have the highest incomes and wages. Not that a four-year degree guarantees you either a job or high wages and income, but that it is for, all but the top entertainers, athletes and entrepreneurs, the most reliable path to the middle […]
Lets hope this isn’t “back”: kids
Michigan is not a state that attracts many young adults to live and work here. Its a problem we need to address. But unless and until we do, the future prosperity of the state is very dependent on the kids who grow up here. So how well children growing up in Michigan are faring is […]
Lets hope this isn’t “back”: wages
We ended our previous post on whether Michigan is back with the conclusion that the fundamental challenge Michigan is facing is too few good paying jobs. As the ALICE report authors put it we need: ” … a significant increase in the wages of current jobs or in the number of medium-and high skilled jobs in […]
Growing education inequality
An important column from Eduardo Porter in the New York Times entitled: A Simple Equation: More Education = More Income. That about says it all! Worth reading. As we write frequently in these posts the evidence is overwhelming that the most prosperous individuals are those with a four year degree or more and the most prosperous […]
Lets hope this isn’t “back”
Michigan elites––corporate, elected officials and the press––increasingly claim that Michigan is back. Thanks in no small part to the huge federal bailout of the domestic automobile industry and the financial system, corporate Michigan is enjoying skyrocketing profits, stock prices and top executive compensation. So without question Michigan elites are doing very well indeeed. The rest […]
Cities and schools
Included in my standard presentation is this quote from Harvard economist Edward Glaeser: In the long run, America will be richer than China only by having smarter citizens, and that requires the skills that come from schools and cities, not dispersed factories. It is great summary of our approach to economic development. In an increasingly knowledge-based […]
California’s growth explained
Lets take a look at the details of California’s economic resurgence since the election of Governor Jerry Brown and adoption of a significant tax increase. (Using data compiled by Don Grimes covering the period from June 2011 to June 2014. Governor Brown took office in January 2011 and the tax increase was approved by voters […]