Air Canada bumped me from my flight this morning and so I am spending the day hanging out at Toronto Pearson Airport. I can think of more enjoyable ways to spend Canada Day, but at least there’s a nice seating area in Terminal 1 with free wifi and lots of plugs.
I just finished watching the below talk by Harvard economist Ed Glaeser at the Manhattan Institute. His overall thesis is that unemployment is a far worse problem than income stagnation and that the US needs to stop creating incentives for people not to work. He refers to it as a war on work.
He addresses a few topics that we’ve talked about here on this blog, such as guaranteed basic incomes, as well as others that we haven’t talked about, such as raising the minimum wage. To give you one spoiler: He argues that a higher minimum wage has been shown to cause an overall drop in employment, which he, again, believes is a deeper problem.
Glaeser delivers a passionate performance. So if you have 30 minutes to spare – perhaps you’re stuck in an airport somewhere – I recommend you give it a watch. If you can’t see the video below, click here.
[youtube https://www.youtube.com/watch?v=8xaNV_6wgak?rel=0&w=560&h=315]
One of the things that I would like to do a bit more of in 2016 is coding. I used to a bit of it in high school and university, and I’ve taken some online classes since then, but I really feel like I should know more. I like making things and tech is clearly an important part of the world today.
I mention this because I have signed myself up for an intro to web development class this evening at Brainstation. My plan is to do a few introductory web and mobile development courses and then figure out where and what I want to dive into further. I don’t plan on being a software developer – I’m happy being a developer of the real estate varietal – but I want to improve my literacy.
I also mention this because I think it’s important to be reminded just how critical education is to urban economic success. Here’s an excerpt from Ed Glaeser’s book, Triumph of the City:
“Human capital, far more than physical infrastructure, explains which cities succeed. Typically in the United States, the share of the population with a college degree is used to estimate the skill level of a place … Despite its coarseness, no other measure does better in explaining recent urban prosperity. A 10 percent increase in the percentage of an area’s adult population with a BA in 1980 predicts 6 percent more income growth between 1980 and 2000.”
