The stunning election of Donald Trump as president throws the future of urban policy into doubt. During the campaign he promised to bring new jobs and improved infrastructure to the inner cities, but so far he has furnished no details. Some of the strategies carried out by cities and states in the past may offer the incoming administration some guidance.
Is This Time Any Different?
Written by The Economic Development CurmudgeonOur discussion on the New Normal and the Post-Financial Crisis centers chiefly around two major conceptual positions. The first is the New Normal label and its conceptual underpinnings and was developed by Mohamed El-Erian, CEO of America's largest asset manager, PIMCO. The second conceptual position is drawn from Reinhart & Rogoff's, This Time is Different. It is worth note that El-Erian put his concept together in 2008-2009 period and Reinhart and Rogoff in early 2010. They have been mostly right thus far into 2012. The article first appeared in January 2011 and has been edited and updated for this issue. Continue Reading...