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On today's episode of Feudal Future hosts Joel Kotkin and Marshall Toplansky are joined by Pete Saunders. Pete Saunders is a writer and researcher whose work focuses on urbanism and public policy. He has been the editor and publisher of the Corner Side Yard, an urbanist blog, since 2012. A practicing urban planner, he serves as the community and economic development director for the Chicago suburb of Richton Park, Ill., and is the principal for PDS Consulting, an urban-planning consulting and research firm.

Marshall begins the show asking Pete what he thinks Chicago can expect being under a new Biden administration. Pete began to explain that not everything seems cut and clear and to be wary buying into a new administration so quickly. Pete went into details and programs that Biden could implement in order to unite Chicago and establish them once again as a metropolitan powerhouse.

Joel chimed in and was curious to see if the new administration would be able to help the crime rates in Chicago. Pete stated that the crime is not something an administration can change, but that it is more of a societal change that needs to happen.

Marshall added that not only crime was something to be concerned about, but also the amount of talent Chicago raises in its own states, and exports out to other parts of the US and how that was taking away from Chicago. Joel added that if Chicago wants to make changes, they need to be more welcoming to new business and create an environment that is welcoming to the business owners. Pete agreed without hesitation.

As the episode ends, Joel and Pete look hopeful in seeing Chicago make steps to revive the Midwest and give power again to the middle class.

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More podcast episodes & show notes at JoelKotkin.com

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Related:

Learn more about the Feudal Future podcast.
Learn more about Marshall Toplansky.
Learn more about Joel Kotkin.
Learn about Pete Saunders.

Join the Beyond Feudalism Facebook group.
Read the Beyond Feudalism report.
Leran about Joel's book, The Coming of Neo-Feudalism.

Reason's newest Surface Transportation Newsletter by Bob Poole talks about Harris County's dangerous raid on HCTRA's toll road money, and this is so important I'm reposting it in full here (highlights mine):

Toll Agency Politicized in Houston

"Back in September, the governing body in Harris County, Texas—the Commissioners Court—voted 3-2 to take over the respected Harris County Toll Road Authority (HCTRA). They created a government corporation that will divert toll revenues to things like flood control and help to pay for deepening the Houston Ship Channel. This political move undercuts the widely followed principle of most U.S. tolling: users-pay/users-benefit. Harris County will receive a $300 million lump sum from HCTRA, followed by $90 million a year indefinitely.

Another part of the deal calls for refinancing HCTRA’s $2.7 billion worth of toll revenue bonds to take advantage of today’s historically low-interest rates, with estimated savings of $60 million per year. That’s a move HCTRA could have made on its own, in the interest of delivering better value to its toll-paying customers. And its well-managed counterpart in the Dallas/Ft. Worth metro area—the North Texas Tollway Authority—the same month announced its own debt refinancing, but without any revenue diversions.

The Houston change was decidedly political, with the three Democratic commissioners voting in favor while the two Republicans voting against it. One of the Republicans, Steve Radack, was quoted in the Houston Chronicle saying, “This is a money grab. They are going to use it to pay for things that are normally paid for via property taxes.” Also opposing the takeover was David Hagy, executive director of the American Council of Engineering Companies, who supported the sensible refinancing but not the county’s money grab. And the Transportation Advocacy Group urged the Commissioners to at least use the diverted funds for transportation purposes.

I wonder how the rating agencies will view this politicization. HCTRA’s current bond indenture, as well as state law, limits the use of surplus revenues to non-toll roads, streets, and highways, according to a Q&A provided by the Harris County budget office. If that’s true, there might be grounds for bondholder litigation.

Moreover, while short-term thinking would say this is only a small amount of revenue diversion, the real danger is that it sets a precedent and provides no safeguards against future raids on HCTRA’s toll revenues. Transportation professionals know what has happened to the Pennsylvania Turnpike when that state’s legislature imposed Act 44 mandating that the Turnpike divert $450 million per year to the state DOT for transit subsidies. The Turnpike has had to significantly increase its bonded indebtedness, and enact large annual toll rate increases to meet the new debt service. That same fate could await HCTRA’s toll payers the next time Harris County faces budget shortfalls."

This piece first appeared on Houston Strategies Blogspot.

Tory Gattis is a Founding Senior Fellow with the Urban Reform Institute and co-authored the original study with noted urbanist Joel Kotkin and others, creating a city philosophy around upward social mobility for all citizens as an alternative to the popular smart growth, new urbanism, and creative class movements. He is also an editor of the Houston Strategies blog.

I’m happy to share our new George W. Bush Institute report, “Cities and Opportunity in 21st Century America.” This report is the first in our new Blueprint for Opportunity series, which aims to explore the challenge of expanding opportunity and economic mobility in America, particularly in U.S. cities, and to lay out a market-oriented opportunity agenda. We plan on publishing additional reports in the series approximately once a quarter over the next couple years.

This report examines how America is doing in promoting economic mobility, why cities and neighborhoods so strongly influence economic mobility for people who live there, and which metropolitan areas are outperforming as engines of opportunity. Our second report will consider lessons from history on cities and opportunity and recent trends remaking the geography of opportunity in the U.S. cities, and subsequent reports will focus on particular policy areas like metropolitan economic development, new business creation, the future of work, the role of anchor institutions, housing attainability, and more.

Click here to download Cities & Opportunities paper

J.H. Cullum Clark is a Director in the George W. Bush Institute-SMU Economic Growth Initiative and an Adjunct Professor of Economics at SMU in Dallas. His work focuses on policies to expand opportunity and economic mobility in America’s cities. He worked for 25 years in the investment industry, at two Wall Street firms in New York then as CEO of his own small investment company for 18 years. He is co-author of a forthcoming book on the metropolitan areas of the “Texas Triangle” region that Texas A&M Press will publish in 2021. He serves on the boards of the leading charter school network in North Texas and several arts and civic organizations in Dallas.

On today's episode of Feudal Future hosts Joel Kotkin and Marshall Toplansky are joined by guests Joe Payne and Tony Lemus. Joseph E. Payne is the President and Chief Executive Officer of Arcturus Therapeutics. Arcturus therapeutics is a leading clinical-stage messenger RNA medicines company focused on the discovery, development and commercialization of therapeutics for rare diseases and vaccines.

Their conversation begins with Marshall asking Joe about different vaccines that are being approved rapidly and how they are receiving emergency permits for the market. Joe breaks down scientifically how mRNA works with the body and how the results look promising for covid19. Arcturus is in the middle of phase 1 and 2 trials with over 100 participants. Joe continued, highlighting that their vaccine could be a single dose vaccine as well as a low dosage.

Tony joined the conversation and added that the predictive models, coupled with the clinical trials, using AI, has sped the process of approval and are able to leap-frog the FDA with less red tape.

Joel brought up a problem. If multiple vaccines come out, which ones will be the best? Joe states that efficacy is the current issue, but the conversation will shift to convenience; cost and single administration. Joel continues and asks if this vaccine will stop the wave of pandemics due to the virus. Joe states that COVID-19 is here to stay regardless of the vaccine and that it will take time for herd immunity to develop.

As the episode ends, Joe explains how the beauty of mRNA vaccines is through a non-viral delivery and how this vaccine will be the benchmark for future pandemics.

Listen on Apple Podcast

Listen on Stitcher

Listen on Spotify

More podcast episodes & show notes at JoelKotkin.com

Watch Episode on Youtube

Related:

Learn more about the Feudal Future podcast.
Learn more about Marshall Toplansky.
Learn more about Joel Kotkin.
Learn about Joe Payne.
Learn about Tony Lemus.

Join the Beyond Feudalism Facebook group.
Read the Beyond Feudalism report.
Leran about Joel's book, The Coming of Neo-Feudalism.

Join the discussion on a new policy agenda for home ownership and opportunity in our post-pandemic economy.

Hosted by Urban Reform Institute

Panel 1

J. H. Cullum Clark - Director, George W. Bush Institute
Anne Snyder - EIC, Comment Magazine
Pete Saunders - Writer, Researcher
Karla del Rio Lopez - Lead Partnership specialist, U.S. Census Bureau
Charles Blain - URI

Panel 2

Wendell Cox - Principal, Demographia
Joel Farkas - Manager, Pioneer HoldCo
Mark Boyce - Founding Partner, True Homes
Ted Nelson - President/COO, Newland
Joel Kotkin - Executive Director, URI

Date: December 4, 2020
Time: 11:30AM – 1:00PM (Central Time)

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