Last year (2014), China overtook the United States in gross domestic product adjusted for purchasing power (GDP-PPP, see point 4 for explanation), according to both the International Monetary Fund (IMF) and the World Bank (Note 1). It may come as a surprise, but this is really a matter of China simply reasserting its position as the world’s largest economy, which it had lost around 1890 to the United States. This is based on estimates developed by the late legendary economist Angus Maddison of the Organization for Economic Cooperation and Development (OECD).
Tagged: Wendell Cox
For decades, California’s housing costs have been racing ahead of incomes, as counties and local governments have imposed restrictive land-use regulations that drove up the price of land and dwellings. This has been documented by both Dartmouth economistWilliam A Fischel and the stateLegislative Analyst’s Office.
Few terms are more misunderstood than “urban sprawl.” Generally, it refers to the spatial expansion (dispersion) of cities and has been use to describe urbanization from the most dense (least sprawling) in the world (Dhaka, Bangladesh), the most dense in the United States (Los Angeles) and also the least dense in the world (such as Atlanta and Charlotte, low density world champions in their population categories).
Yesterday, Vice President Joe Biden — the country’s most famous Amtrak rider — announced that President Obama wants to spend $53 billion on high-speed rail over the next six years.[…]