Yesterday, we rode the high speed rail from Hangzhou to Shanghai. It took 45 minutes to go about 110 miles, and the ride was smoother than any US form of transportation. At dinner last night, the Chinese, justifiably proud, asked what we had thought.
San Francisco-LA, the route my fellow journalist wanted to travel, isn't even on this map; the Bay Area MSA only has about 4 million people in it. By contrast, the smallest city on the Chinese map has a population over 5 million, and that's considerably understated, because I used just the population of the city, not the outlying areas that might conceivably drive in to use the HSR.
The longest trip between the major cities on the Chinese map is just slightly longer than the DC-Chicago trip would be. It's no coincidence that the only place we have anything that could even be arguably dubbed HSR is the one area where four cities are pretty tightly clustered together. And that doesn't go very fast because it uses existing rights of way, and because the politicians that fund it like to have it make stops in their city. (Q: Why does the Acela stop in Wilmington, Delaware, which is a quick drive from Philadelphia? A: Because Joe Biden likes to ride it.) Stops are the enemy of speed.
Moreover, the Chinese government does not have to worry unduly about things like environmental impact and acquiring the right of way. For truly high speed rail, you need a long straightaway with few curves or inclines. That means it's very important to lay the rail in the best possible path, or near it. Trying to do this between, say, New York and Chicago would mean approximately a century of court battles with homeowners, environmental groups, local NIMBYs, and sundry others. Moreover, many desirable routes are occupied by our enormous network of highways, and only someone with a very rich fantasy life could believe that we are going to rip out the highways to put in a rail network.
I know--carbon emissions! The environment! Don't we eventually have to deal with these problems?
Sure. But high speed rail is less of an environmental gain than regular rail; it takes a lot of energy to move that fast. One can argue that because it is more attractive than regular rail, it is still a bigger environmental gain, because more people will switch from planes to trains.
This is only true, however, if the trains travel very full; moving empty cars is not environmentally sound. The problem is that for trains to be an attractive alternative to planes, they need to travel fairly frequently. China can do this (arguably) because they have a large number of high-population cities that are very close to each other. We do not.
Viewed from a purely technological perspective, America's high speed rail is an embarrassment compared to China's: shaky, slow, and not particularly sleek. But viewed in another way, our slow rail network is the price for a lot of great things about America: our limits on government power, our democratic political system, and the fact that we're already rich enough to have an enormous amount of existing infrastructure, in the form of houses, industrial plant, and roads, that would be very expensive to tear up in the name of building rail lines. All in all, I think these things are more valuable than even a really cool train system.
A CFPB investigation concluded that Transunion and Equifax deceived Americans about the reports they provided and the fees they charged.
In personal finance, practically everything can turn on one’s credit score. It’s both an indicator of one’s financial past, and the key to accessing necessities—without insane costs—in the future. But on Tuesday, the Consumer Financial Protection Bureau announced that two of the three major credit-reporting agencies responsible for doling out those scores—Equifax and Transunion—have been deceiving and taking advantage of Americans. The Bureau ordered the agencies to pay more than $23 million in fines and restitution.
In their investigation, the Bureau found that the two agencies had been misrepresenting the scores provided to consumers, telling them that the score reports they received were the same reports that lenders and businesses received, when, in fact, they were not. The investigation also found problems with the way the agencies advertised their products, using promotions that suggested that their credit reports were either free or cost only $1. According to the CFPB the agencies did not properly disclose that after a trial of seven to 30 days, individuals would be enrolled in a full-price subscription, which could total $16 or more per month. The Bureau also found Equifax to be in violation of the Fair Credit Reporting Act, which states that the agencies must provide one free report every 12 months made available at a central site. Before viewing their free report, consumers were forced to view advertisements for Equifax, which is prohibited by law.
The MIT economist Peter Temin argues that economic inequality results in two distinct classes. And only one of them has any power.
A lot of factors have contributed to American inequality: slavery, economic policy, technological change, the power of lobbying, globalization, and so on. In their wake, what’s left?
That’s the question at the heart of a new book, The Vanishing Middle Class: Prejudice and Power in a Dual Economy, by Peter Temin, an economist from MIT. Temin argues that, following decades of growing inequality, America is now left with what is more or less a two-class system: One small, predominantly white upper class that wields a disproportionate share of money, power, and political influence and a much larger, minority-heavy (but still mostly white) lower class that is all too frequently subject to the first group’s whims.
The party appears to be struggling to convince the public it represents a better alternative to President Trump and the GOP.
If Democrats want to regain the power they’ve lost at the state and federal level in recent years, they will have to convince more voters they can offer solutions to their problems.
That may be especially difficult, however, if voters think the party and its representatives in government don’t understand or care about them. And according to a recently released poll, many voters may, in fact, feel that way. The Washington Post-ABC News survey, released this week, found that a majority of the public thinks the Democratic Party is out of touch with the concerns of average Americans in the United States. More Americans think Democrats are out of touch than believe the same of the Republican Party or President Trump.
In 1985, Neil Postman observed an America imprisoned by its own need for amusement. He was, it turns out, extremely prescient.
Earlier this month, thousands of protesters gathered at Washington’s National Mall to advocate for an assortment of causes: action against global climate change, federal funding for scientific research, a generally empirical approach to the world and its mysteries. The protesters at the March for Science, as scientists are wont to do, followed what has become one of the established formulas for such an event, holding clever signs, wearing cheeky outfits, and attempting, overall, to carnivalize their anger. “Make the Barrier Reef Great Again,” read one sign at the March. “This is my sine,” read another. “I KNEW TO WEAR THIS,” one woman had written on the poncho she wore that soggy Saturday, “BECAUSE SCIENCE PREDICTED THE RAIN.” Three protesters, sporting sensible footwear and matching Tyrannosaurus rex costumes, waved poster boards bearing messages like “Jurassick of this shit.”
There’s a common perception that women siphon off the wealth of their exes and go on to live in comfort. It’s wrong.
A 38-year-old woman living in Everett, Washington recently told me that nine years ago, she had a well-paying job, immaculate credit, substantial savings, and a happy marriage. When her first daughter was born, she and her husband decided that she would quit her job in publishing to stay home with the baby. She loved being a mother and homemaker, and when another daughter came, she gave up the idea of going back to work.
Seven years later, her husband told her to leave their house, and filed for a divorce she couldn’t afford. “He said he was tired of my medical issues, and unwilling to work on things,” she said, citing her severe rheumatoid arthritis and OCD, both of which she manages with medication. “He kicked me out of my own house, with no job and no home, and then my only recourse was to lawyer up. I’m paying them on credit.” (Some of the men and women quoted in this article have been kept anonymous because they were discussing sensitive financial matters, some of them involving ongoing legal disputes.)
The wealthiest Americans donate 1.3 percent of their income; the poorest, 3.2 percent. What's up with that?
When Mort Zuckerman, the New York City real-estate and media mogul, lavished $200 million on Columbia University in December to endow the Mortimer B. Zuckerman Mind Brain Behavior Institute, he did so with fanfare suitable to the occasion: the press conference was attended by two Nobel laureates, the president of the university, the mayor, and journalists from some of New York’s major media outlets. Many of the 12 other individual charitable gifts that topped $100 million in the U.S. last year were showered with similar attention: $150 million from Carl Icahn to the Mount Sinai School of Medicine, $125 million from Phil Knight to the Oregon Health & Science University, and $300 million from Paul Allen to the Allen Institute for Brain Science in Seattle, among them. If you scanned the press releases, or drove past the many university buildings, symphony halls, institutes, and stadiums named for their benefactors, or for that matter read the histories of grand giving by the Rockefellers, Carnegies, Stanfords, and Dukes, you would be forgiven for thinking that the story of charity in this country is a story of epic generosity on the part of the American rich.
China has profited immensely from the open global trading system. But whether it remains open depends on the actions of the West’s increasingly reactive democracies.
In January 2017 the global economy changed guard. The venue was Davos, the annual gathering of the world’s wealthiest recyclers of conventional wisdom—and consistently one of the last places to anticipate what is going to happen next. This time was different. The assembled hedge-fund tycoons, Silicon Valley data executives, management gurus, and government officials were treated to a preview of how rapidly the world is about to change. Xi Jinping, the president of China, had come to the Swiss Alpine resort to defend the global trade system against the attacks of the U.S. president-elect, Donald Trump. With minimal fanfare, the leader of the world’s largest developing economy took over the role of defending the global trading system in the teeth of protectionist war cries from the world’s most developed nation. It portended a new era in which China would apparently play the role of the responsible global citizen. The bad guys were swapping places with the good. “Some people blame economic globalization for the chaos in our world,” Xi told Davos. “We should not retreat into the harbor whenever we encounter a storm or we will never reach the other shore. … No one will emerge as a winner from a trade war.”
“Somewhere at Google there is a database containing 25 million books and nobody is allowed to read them.”
You were going to get one-click access to the full text of nearly every book that’s ever been published. Books still in print you’d have to pay for, but everything else—a collection slated to grow larger than the holdings at the Library of Congress, Harvard, the University of Michigan, at any of the great national libraries of Europe—would have been available for free at terminals that were going to be placed in every local library that wanted one.
At the terminal you were going to be able to search tens of millions of books and read every page of any book you found. You’d be able to highlight passages and make annotations and share them; for the first time, you’d be able to pinpoint an idea somewhere inside the vastness of the printed record, and send somebody straight to it with a link. Books would become as instantly available, searchable, copy-pasteable—as alive in the digital world—as web pages.
They say religious discrimination against Christians is as big a problem as discrimination against other groups.
Many, many Christians believe they are subject to religious discrimination in the United States. A new report from the Public Religion Research Institute and Brookings offers evidence: Almost half of Americans say discrimination against Christians is as big of a problem as discrimination against other groups, including blacks and minorities. Three-quarters of Republicans and Trump supporters said this, and so did nearly eight out of 10 white evangelical Protestants. Of the latter group, six in 10 believe that although America once was a Christian nation, it is no longer—a huge jump from 2012.
Polling data can be split up in a million different ways. It’s possible to sort by ethnicity, age, political party, and more. The benefit of sorting by religion, though, is that it highlights people’s beliefs: the way their ideological and spiritual convictions shape their self-understanding. This survey suggests that race is not enough to explain the sense of loss some white Americans seem to feel about their country, although it’s part of the story; the same is true of age, education level, and political affiliation. People’s beliefs seem to have a distinctive bearing on how they view changes in American culture, politics, and law—and whether they feel threatened. No group is more likely to express this fear than conservative Christians.
Silicon Valley’s new member of Congress has some big ideas for combatting wage stagnation.
Ro Khanna has a $1 trillion plan to fatten Americans’ wallets.
The newly elected member of Congress, who represents Silicon Valley, has become a loud progressive voice on the Hill during his brief tenure there. The way he sees it, Democrats have failed by not offering families a radical plan to end wage stagnation and bring prosperity to the middle class once again. He is working on a bill he believes will do just that, by boosting the Earned Income Tax Credit to provide as much as $6,000 a year for individuals and $12,000 for families. (That would roughly double the maximum payout for families, and increase it tenfold for childless workers.) The plan is being heralded as a move towards a universal basic income in the United States, and Khanna hopes to pair it with efforts to move federal jobs out of Washington, expand universities and colleges, and encourage investment in depressed communities. Such a moonshot effort is not going anywhere soon, he concedes. But it would at the very least demonstrate to voters that Democrats had something new and bold to offer them.