Explaining the rot

In my article about fighting the coronavirus and economic crises yesterday, I said: We also need to invest in the physical and social infrastructure of this country. For decades, civilian public investment net of depreciation has hovered just above 0, meaning that we’re doing little better than replacing things as they decay. Here’s some more detail on that, which updates a September 2017 post. Graphed below are histories of net public investment in the US, from the national income accounts. (The source is table 5.2.5, here.) “Net” means after accounting for depreciation, aka… Read More

Why the USA is falling apart

If I were a debased purveyor of clickbait, I’d call this “Everything that’s wrong with America in two charts.” But I’m not, so I won’t. But still…. Hurricane Harvey is only the latest reminder that the U.S. infrastructure is falling apart—a situation that become more urgent as the climate crisis bites harder. Here’s a data series that goes a long way to explaining why. In simple English, the public sector is barely investing enough to keep up with normal decay, let alone doing anything to improve things. The series is net civilian… Read More