Economic Creative Destruction in Los Angeles…

& BRIEFLY NOTED: For 2022-01-04 Tu: Condition: FREEZING: A hard freeze in Berkeley is NOT what I signed up for. I hope we brought the banana tree inside in time… First: Economic Creative Destruction in Los Angeles, 1989-1993: The stand-down from the Cold War was the first business cycle since the Great Depression to have even a semi-severe effect on Greater Los Angeles: IIRC, the regional unemployment rate rose by 4%-points. IIRC, half of the elevation was eliminated by, eventually, new industries other than aerospace moving in; and half by people moving out...

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