Jan 202016
 

Who would have guessed that incomes are more unequal in Communist China than in the United States? Not me. A new report from Peking University, cited in the Financial Times, says the richest 1% of China’s households own a third of the country’s wealth. The poorest 25% own just 1%. [continue reading . . . ]






Jan 042016
 
Magnet Northwest

Population of the Evergreen State has grown about 60% faster than the national average in first half of the decade. Only seven states have grown at a faster rate; only two of those seven have more population than Washington. International migration — people moving from other countries — accounts for [continue reading . . . ]






Dec 172015
 
Slow-growth world

Raising interest rates a quarter point as the Fed did this week does not change the fact that we live in a slow-growth world. Money markets and commodities markets are singing the same song in unison: Almost no inflation, and very little growth. To say that commodities prices have collapsed [continue reading . . . ]






Sep 302015
 
Needed: More, not fewer, immigrants

Worried about your Social Security benefits? You ought to be. Whether you are in your 70s or your 20s , the number of workers taxed to support you in our pay-as-you-go social-insurance system are or will be fewer than supported your parents and grandparents. We’re living longer and having fewer [continue reading . . . ]






Sep 202015
 

Don’t miss the essay in the Wall Street Journal on Sept. 19, 2015 by Dr. Bjørn Lomborg, the Danish author and environmentalist, featuring what I regard as uncommon sense on climate change. No Wall Street Journal subscription? If you have a library card in your purse or wallet, you can [continue reading . . . ]






Sep 052015
 
Tonight's Top 10 List

Employment has been growing faster than average in the recent past on the West Coast generally and in the Pacific Northwest states in particular. Among the states I follow as a regional economist, Montana and Alaska, both hit hard by the collapse of oil prices, rank well below aveage. The [continue reading . . . ]






Aug 292015
 
The recovery: Still tepid

Good on us that the U.S. economy grew at an annual rate estimated at 3.7% in the April-May-June quarter rather than the 2.2% rate announced as the first estimate a month ago. But don’t get too excited. State and local government spending accounted for a higher-than-average share of the growth [continue reading . . . ]