The basic driver of remarkable economic growth in China — and India, Vietnam, Thailand, Brazil and pretty much every other developing country — is pretty simple: people migrating from rural areas, where they’re not very productive, to dense cities, where they are very productive. This is a tried-and-true strategy for making people and countries richer.
Source: The Washington Post.
Sigh! When will America realize that its cities are the real America?
An excellent interactive map of New York City with income levels for various neighborhoods in reference to affordable housing. Don’t even click on the Upper East Side. [Source: Envisioning Development: What is Affordable Housing?]
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.One of the best explanations of the current credit crisis. It shows how ordinary homeowners defaulting aren’t solely to blame and the problems are systemic tracing back to the lowering of the Fed rate and repeal of the Glass-Steagall Act in 1999 that allowed creation of mortgage-backed securities. But I’m no economist and reasons are far more complex that I could even begin to explain here. The sociological impacts on the neighborhoods however are only beginning to show with abandoned homes that are only making the problem worse.
“Try this experiment. Go knock on someone’s door in West Oakland, Watts or Newark and say: ‘We gotta really big problem!’ They say: ‘We do? We do?’ ‘Yeah, we gotta really big problem!’ ‘We do? We do?’ ‘Yeah, we gotta save the polar bears! You may not make it out of this neighborhood alive, but we gotta save the polar bears!’ ”
Thomas Friedman writes about including the minority low-income populations in the ‘green movement’. Imposing conservation and sustainability on people usually doesn’t work. Rather you have to make the case that it is beneficial to them in the long run. Only then will they listen. Just like the corporations listened when it affected not only their image but also their bottomline.
“The world now has more regional trade schemes than countries” [via] – from Paul Collier’s The Bottom Billion.
You know a country has too much money when they build a hundred acre park covered with lush green grass in the middle of a desert or for that matter, even a skiing slope. Dubai is no stranger to ostentatious spending but compared to its equally rich cousins in the Middle East, the rulers of Dubai tend to ‘invest’ their oil revenues in their infrastructure and building an alternative to an after-oil future rather than building colossal palaces (just because you can!) I was in Dubai seven years ago and my brother and I chose to visit this thriving economy rather than idle our time on Mall Road in some Indian hillstation. Of course, we missed out on sylvan-lined bucolic evening walks but instead were exposed to wealth as never seen before. Since then, we have heard that there are plenty more things that Dubai has to offer including your own private island shaped like a country within a set of islands set to the world map.
We’ve all heard of the construction boom that is going on in Dubai so I thought it wise to revisit the Dubai property market through a paid review of LatticeWerks. You have seen the glamorous symbols of Dubai like the arching sail-like Burj-Al Arab Luxury Hotel and the view of the Giant Palm Islands but did you know that a majority of the construction cranes in the world are found in Dubai? That in itself should tell you that it is not over yet and the future of Dubai skyline is just beginning to form.
LatticeWerks, a property investment firm in Dubai gives us an overview of why you should invest in Dubai. I just hope they would increase the font a little and emphasize the headlines more since it makes it extremely difficult to read and you don’t want to lose out on potential investors if they can’t read your website, right? And of course, everyone loves photos of fancy buildings and cityscape. Perspectives of upcoming projects and a view of the future doesn’t hurt either. Convincing investors in overseas property can be much more tricky than showing them palm trees lined oceanfront property in say, Florida.
That brings me to another point -are customers convinced of investment opportunities by simply browsing through the websites of investment companies? Probably in hot property markets like Dubai, nothing can go wrong (or will it?) but are customers still gullible to read a rosy picture description of a faraway land and willingly hand over their hard earned money or will they demand more information even if it is on the Web? Probably I’m looking at it the wrong way. Probably such websites merely open the Pandora’s box and hook in the consumer making him initiate an enquiry following which the sales experts take over.
What do you think?
Attempts to resolve poverty and to grant economic justice has been the aim of planning ever since Charles Booth’s studies in London have shown it as a bane to the urbanscape. Planners have oscillated between objectives of eliminating poverty from the neighborhood and eliminating poverty from the people; both of which claim to achieve common ends through very different means. The former merely shifts the problem elsewhere and the latter puts the concerns of the people often in lieu of the economic process.
However one common strand has been to throw money at solving poverty, the logic being isn’t poverty defined as the lack of monetary resources so more of money would be good, right? On the contrary such methods have not only failed to make a dent in the larger issue of poverty but have often compounded the problem. Neoclassical economists will believe in letting the people choose what they want by giving them financial means to do so and if they fail to alleviate their problem, central planners will say, see we told you they cannot make the best decisions for themselves but we have to make it for them. Thus goes the struggle in trying to resolve poverty and only more money gets thrown at a problem that isn’t even close to being solved. The poverty issue has once again found its place in the limelight thanks to John Edward’s Two Americas presidential campaign.
However contrary to the popular opinion, poverty is more of a sociological problem than an economic or political one. But approaches to solve it from a social perspective by first trying to understand its underlying causes have often found lacking. I don’t propose to offer a silver bullet solution for poverty alleviation in this article (if I had one, wouldn’t I be running for President?) but rather shed some light on recent attempts especially at MIT and other top universities in trying to understand the problem and work toward finding a solution.
The Houston-Galveston corridor is one of the busiest in terms of rush hour traffic as people living in Houston commute everyday along I-45 to their jobs in the oil and gas industry on the coast. But hope arises for reducing the growth in number of vehicles on this already-congested stretch of roadway with the proposal for reviving commuter train service. Best of all, there would no need to lay down new rail lines since it would operate on the historic railroad that currently hosts freight traffic. Although freight traffic would be given preference or if possible siding tracks would be built to accommodate waiting trains, this is a realistic proposal with a greater chance of success in a region that is usually averse to any kind of public transit. The light rail project currently operating between the Medical Center and Downtown Houston is a joke and is often used as a failed strategy by anti-transit proponents. To be fair, the light rail project was doomed from the start and never implemented correctly.
In spite of the fact that humans occupy less than 1% of the total land available on Earth, land scarcity is an omnipresent urban reality. Partly due to urban aggregation behavior and availability of conducive habitable spaces, the fight for space especially in urban areas has been intense. Be it the ever-growing slums in Mumbai or the problem of homeless in New York, the fight is also never fair or equal. Although common sense tells us that economics should be enough to dictate property rights, the point of contention arises at the boundaries of public and private space. As in this case:
A Madison Avenue antiques dealer is suing a group of unidentified homeless people for $1 million, saying that the group has taken up residence outside his posh Upper East Side business, using the sidewalk in front of the shop as a urinal, spittoon and occasional dressing room [source].
In Queens, the median income among black households, nearing $52,000 a year, has surpassed that of whites in 2005, an analysis of new census data shows. No other county in the country with a population over 65,000 can make that claim.
New York Times reports on this unique country in the United States where the average income of black households exceeds that of their white neighbors. But it should be noted that most of the black households are immigrants from West Indies. As the article says, Queens isn’t the only country but in fact, Mount Vernon in Westchester, Pembroke Pines, Fla.; Brockton, Mass.; and Rialto, Calif. also show similar tendencies however none are as large as Queens.
[tag]Queens, racial inequality, median income, demographics, census, black households, opportunity[/tags]