There was once a time when most Americans took streetcars to work every day. Nowadays, 85 percent of workers drive. And although a few different factors fueled this transition, the biggest one may have been a $425 billion investment over half a century in the world's most advanced network of highways: the Interstate Highway System.
Highways gutted American cities. So why did they build them? The 48,000 miles of interstate highway that would be paved across the country during the 1950s, '60s, and '70s were a godsend for many rural communities. But those highways also gutted many cities, with whole neighborhoods torn down or isolated by huge interchanges and wide ribbons of asphalt. Wealthier residents fled to the suburbs, using the highways to commute back in by car. That drained the cities' tax bases and hastened their decline.
Niall Ferguson, MA, D.Phil., is Laurence A. Tisch Professor of History at Harvard University. He is also a Senior Fellow at the Hoover Institution, Stanford University, and a Visiting Professor at Tsinghua University, Beijing.
He has published fourteen books. His first, Paper and Iron: Hamburg Business and German Politics in the Era of Inflation 1897-1927, was short-listed for the History Today Book of the Year award, while the collection of essays he edited, Virtual History: Alternatives and Counterfactuals, was a UK bestseller. In 1998 he published to international critical acclaim The Pity of War: Explaining World War One and The World’s Banker: The History of the House of Rothschild. The latter won the Wadsworth Prize for Business History and was also short-listed for the Jewish Quarterly/Wingate Literary Award and the American National Jewish Book Award. In 2001, after a year as a Houblon-Norman Fellow at the Bank of England, he published The Cash Nexus.
His other books include Empire, Colossus, The War of the World, The Ascent of Money, Civilization: The West and the Rest, and The Great Degeneration: How Institutions Decay and Economies Die.
An accomplished biographer, Ferguson is also the author of High Financier: The Lives and Time of Siegmund Warburg (2010) and is currently writing a life of Henry Kissinger, the first volume of which will be published later this year.
He is also an award-making filmmaker, having won an international Emmy for his PBS series The Ascent of Money. His many other prizes and awards include the Benjamin Franklin Prize for Public Service (2010), the Hayek Prize for Lifetime Achievement (2012) and the Ludwig Erhard Prize for Economic Journalism (2013).
In addition to writing regularly for newspapers and magazines around the world, he is the founder and Managing Director of Greenmantle LLC, a Cambridge-based advisory firm.
He's tackled nearly everything including last December 2015 in Palm Beach
CLOSING THE GAP
“The defining issue of our time.”
-Nouriel Roubini
Closing The Gap will bring together leading thinkers and thinking leaders to explore strategies to re-start the American Dream. That dream has been disrupted. Our economy is being reshaped by the exponential growth of technology and the global equalization of wages, and upward economic mobility is rapidly becoming a thing of the past.
The growing income gap in our economy is challenging enough for the average hard-working American. But the rapid automation of many human tasks is already overwhelming our ability to adapt, and robots and software could continue to affect an increasing percentage of our workforce.
This lack of opportunity is the most critical challenge that our economy is facing today. We need to gain an understanding about what is happening in our economy, and come up with big ideas to help re-start the American Dream
About two weeks ago Niall Ferguson addressed the Milken Institute Global Economic Conference in Los Angeles
Where the World Connects: Milken Institute Global Conference Combines the Power of Convening and the Power of Ideas
For the 19th year, the Milken Institute Global Conference brought together leaders who drive change. From May 1 through May 4, more than 3,500 people from 55 countries and 45 states gathered for discussion across 11 content tracks, with the overarching theme exploring “The Future of Humankind.”
“Our Global Conference builds relationships that turn powerful ideas into transformative action, especially in our core areas of access to capital, improving health care and spurring job creation,” says Institute President and CEO Mike Klowden. “Our ability to bridge the worlds of business, finance, health, education and policy has never been more in demand.”
In the news: Maricopa County's chief law enforcement officer undermines respect for "the rule of law" with non-compliance to charges of racial profiling
1 hour ago - An Arizona judge has ruled that Joe Arpaio, who calls himself "America's toughest sheriff," is in civil contempt of court. Judge G. Murray Snow
Contempt of court, often referred to simply as "contempt", is the offense of being disobedient to or disrespectful towards a court of law and its officers in the form of behavior that opposes or defies authority, justice, and dignity of the court.
Contempt takes two forms: criminal contempt and civil contempt.
Anybody else wondering what's going on by all these recent headline-grabbing cases getting into courts for decisions - and they go on year-after-year. Here's a link from one year ago
Judge Holds Contempt Of Court Hearing For Arizona Sheriff Joe Arpaio PHOENIX (AP) — The sheriff for metro Phoenix begins a four-day hearing Tuesday that could bring him fines, damage his credibility and make him politically vulnerable for his acknowledged violations of a judge's orders in a racial profiling case.
Maricopa County Sheriff Joe Arpaio has acknowledged disobeying the judge's pretrial order that barred his immigration enforcement patrols. He also has accepted responsibility for his agency's failure to turn over traffic-stop videos in the profiling case and bungling a plan to gather such recordings from officers once some videos were discovered. The hearing marks the boldest attempt to hold the normally defiant sheriff personally responsible for his actions. By JACQUES BILLEAUDD Published April 21, 2015