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Archive for Economics

A Contrarian’s Lament in a Blitz of Gentrification

Sharon Zukin had come to Greenwich Village and the Shrine of St. Jane not as a pilgrim but to wax sardonic.

Ms. Zukin, a Brooklyn College sociology professor, stared at the modest red-brick town house on Hudson Street that once was home to Jane Jacobs, whose 1961 book, “The Death and Life of Great American Cities,” celebrated the joyous hodgepodge of New York’s neighborhoods: the working-class tailor and the artist, the Italian grocer and the writer, living cheek by jowl.

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Popularity: 4% [?]

When skyscrapers signal a downturn

Skyscrapers, then, are the physical embodiment of “irrational exuberance” in the markets. The rule is that if there’s enough money sloshing around to pay for one, then don’t be surprised if, by the time the purple ribbon’s cut, the scissors have to be on hire purchase.

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Popularity: 22% [?]

Slumburbia

Drive along foreclosure alley, through new planned communities that look like tile-roofed versions of a 21st century ghost town, and you see what happens when people gamble with houses instead of casino chips.

Dirty flags advertise rock-bottom discounts on empty starter mansions. On the ground, foreclosure signs are tagged with gang graffiti. Empty lots are untended, cratered with mud puddles from the winter storms that have hammered California’s San Joaquin Valley.

Nobody is home in the cities of the future.

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Popularity: 11% [?]

A Recipe for Slums

“Urbanization is a vital phase of development, and if managed well, it can be a key driver of long-term economic growth in a country,” said World Bank president Robert Zoellick as his agency announced its ten-year urban development strategy. This appraisal strikes me as aloof, given the out-of-control urbanization patterns in the global south that are causing what Mike Davis famously termed a “planet of slums.” Asia’s urban population will reach 2.6 billion by 2030, according to the UN. By then Africa’s cities will more than double in size to 740 million people and Latin America’s cities will have to meet the needs of 600 million. How, given these astonishing realities, do we curb the growth of the world’s informal settlements, now one billion residents strong? What can governments do to mitigate the “push effects” of economic despair in agrarian regions that force too many people willy-nilly into cities?

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Popularity: 16% [?]

The High Cost of Ignoring Beauty

Architecture clearly illustrates the social, environmental, economic, and aesthetic costs of ignoring beauty. We are being torn out of ourselves by the loud gestures of people who want to seize our attention but give nothing in return.

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Popularity: 18% [?]

Capitalist Fools

Commercial real estate is dominated by financial professionals, not hustlers looking for a quick flip. So why is the market about to melt down?

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Popularity: 18% [?]

Street Corners vs. Cul de Sacs

Real estate agents often chant the mantra “location, location, location,” which essentially means “find a home in a well-kept neighborhood with good schools and a low crime rate.” Some may cite a fourth factor, “walkability,” a concept supported by self-styled “new urbanists” who advocate denser cities designed for the pedestrian and mass transit as much as for the car. In their ideal neighborhood, you could walk to a bookstore and then to an ice cream shop, and your children could walk to school, probably unescorted. (It sounds like so many movie depictions of America in the 1950s.)

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Popularity: 17% [?]

Dawn of the Dead Mall

The landscape is littered with the giant carcasses of failed retail emporia. Ideas for what’s next are no less visionary. But are they any more practical?

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Popularity: 17% [?]

Meeting Mike Davis

Mike Davis and I met on a summer day in San Diego. He graciously drove his truck and showed me his collection of “interesting sites” he planned for us to see in the area. As we were visiting those places, we talked about variety of subjects.

His selection of the sites was nothing less than socio-cultural paintings in action plus a rough sketch of complex connections drawn by him.

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Popularity: 30% [?]

China’s empty city

China’s economy is continuing to grow despite the global recession, helped by a massive government stimulus package of $585bn.

But doubts remain whether such strong growth can be sustained by public spending alone.

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Popularity: 27% [?]

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