Wednesday, February 24, 2021

Shifting Economics

Joel Kotkin writes in American Mind,
More serious still, Biden’s team must address the fact that the key Democratic base—the big coastal core urban areas—has been fundamentally undermined by the pandemic, last summer’s disorders, and a steady rise in crime. Critically, the shift to on-line work undermines the fundamental logic of dense core cities by driving talent to other regions. An estimated 42 percent of the 155 million-strong U.S. labor force is working from home full-time during the pandemic, up from 5.7 percent in 2019. Experts like Stanford economist Nicholas Bloom suggest it will remain at least 20 percent of the workforce even after the pandemic ends.
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