News
News
Sept. 6, 2017

Land-use restrictions are a significant drag on economic growth in the United States. The creeping web of these regulations has smothered wage and gross domestic product growth in American cities by a stunning 50 percent over the past 50 years. Without these regulations, our research shows, the United States economy today would be 9 percent bigger — which would mean, for the average American worker, an additional $6,775 in annual income. For most of the 20th century, workers moved to areas where new industries and opportunities were emerging. This was the locomotive behind American prosperity. Agricultural workers moved from the countryside to booming cities like Pittsburgh and Detroit. In the Great Migration, some six million African-Americans left the South for manufacturing jobs in cities like Chicago and Buffalo. Today, this locomotive of prosperity has broken down. Finance and high-tech companies in cities like New York, Boston, Seattle and San Francisco find it difficult to hire because of the high cost of housing. When an unemployed worker in Detroit today finds a well-paying job in San Francisco, she often cannot afford the cost of housing there.

News
Sept. 6, 2017

Other proposals on the table include 2 bills — Assembly Bill 1505 and Senate Bill 277 – that would allow local governments to enact inclusionary housing ordinances, which requires developers to “include a certain percentage of residential rental units affordable to, and occupied by” low- and moderate-income households.

Maybe that sounds reasonable, but experience shows that inclusionary zoning results in fewer units being built. A Reason Foundation study found that it “drives away builders” and “imposes significant costs on the housing sector,” which are “passed on to landowners and buyers of market-rate homes.” It chills developers’ incentive to build.

Not all of the ideas are bad, however. A bill to streamline local government approval processes, such as Senate Bill 35, would be helpful. But any good it would do is offset by its requirement that builders pay the prevailing wage, which is sure to increase construction costs and therefore housing prices.

California needs new houses. No one will argue to the contrary. The shortage caused by decades of public policy that has diminished the incentives to build has led to dizzyingly high prices which, according to the LAO, “make it difficult for many Californians to find housing that is affordable and that meets their needs.” Because the median price of a California home is nearly $550,000 — second in the country only to Hawaii — fewer than one-third of households can afford to buy one, says the California Association of Realtors.

News
Sept. 6, 2017

Teachers’ union leaders hoping to discount the runaway academic success of charter schools have claimed charters lure the best-performing kids, leaving traditional, union-run public schools to handle poor-performing and struggling students. In its statement launching the anti-charter “Kids Not Profits” campaign, for instance, the California Teachers’ Association claimed that charters “cherry-pick the students … weeding out and turning down students with special needs.”

Now a series of reports in California and elsewhere show the opposite is true. In one case, educators in the San Diego Unified School District have been counseling their students with low grade-point averages to transfer into charter schools, especially online charters, according to a Voice of San Diego report last month.

News
Sept. 6, 2017

Teachers’ union leaders hoping to discount the runaway academic success of charter schools have claimed charters lure the best-performing kids, leaving traditional, union-run public schools to handle poor-performing and struggling students. In its statement launching the anti-charter “Kids Not Profits” campaign, for instance, the California Teachers’ Association claimed that charters “cherry-pick the students … weeding out and turning down students with special needs.”

Now a series of reports in California and elsewhere show the opposite is true. In one case, educators in the San Diego Unified School District have been counseling their students with low grade-point averages to transfer into charter schools, especially online charters, according to a Voice of San Diego report last month.

News
Sept. 5, 2017

On this Labor Day, the American middle class survives. Indeed, it's expanding. That's not the conclusion of some arcane scholarly study. It's the judgment of Americans themselves, though it hasn't received much attention from politicians or the media. Most Americans have moved beyond the fears bred by the Great Recession. The middle-class comeback may be the year's most underreported story. Public opinion polls depict the change. In its surveys, Gallup regularly asks people to report their social class. They are given five choices: upper class; upper middle; middle; working; and lower class. In 2006, before the recession, 60% of Americans identified themselves as either middle or upper middle class, while 38% chose working class and lower class. Only 1% put themselves in the upper class. . . In its latest poll on class identity, done in June, Gallup found that 62% put themselves in the broadly defined middle class, while only 36% classified themselves as working class or lower class. The shifts, said Gallup, began in 2016 and demonstrated "that subjective social class identification has stabilized close to the prevailing pattern observed before 2009."

previous    3 4 5 6 7 8 9 10 11 12   next           first    last


Topics


Regions


Industries


Sources