Archive for April 2018
What Coal Plant Closures Mean for Minnesotans
In the last few years, several coal plants in Minnesota have either shut down their boilers, idled them, or converted them to another fuel source. These closures have followed national and international trends, where coal-fired electricity loses on cost to natural gas and renewables. What economic impacts will Minnesotans feel? The Becker, MN Sherburne County…
Read MoreMinnesota Per Capita GDP Growth Surpasses U.S. Average
High per capita gross domestic product (GDP) states—such as Minnesota—tend to have lower rates of GDP growth over time, for reasons discussed in part 1 of this series. However, Minnesota has successfully bucked this trend during the current business cycle, with per capita GDP growth nearly double the U.S. average—a trend which stands at odds…
Read MoreEnergy Insecurity in Minnesota
Energy insecurity strikes too many Americans, and too many Minnesotans. More than any other reason, high utility bills force Americans turn to pay-day loans, or even out of their homes. High energy bills literally plague the poorest among us, as the stress of a looming payment and inconsistent heat leads to worse health outcomes. This…
Read MoreConvergence is Back! (It Never Really Went Away)
Convergence refers to the tendency of states with below average levels of economic activity to enjoy somewhat higher growth rates than other more prosperous states. Convergence occurs because less well-performing states tend to make up ground over time relative to more prosperous states as innovations and technology diffuse throughout the economy.* If convergence is real,…
Read MoreEnergy Myth: Renewables Cost More
Many folks, here in Minnesota and elsewhere, falsely believe that renewable energy simply costs more than fossil and nuclear energy. Perhaps these folks only remember when solar panels best adorned satellites and not homes. Perhaps the modest subsidies for wind and solar convince some that these technologies cannot stand on their own (nevermind the long-running…
Read MoreMinnesota Still Outperforming “Right to Work” Wisconsin
For most of the last decade, earnings in Minnesota and Wisconsin grew at a similar pace—until 2015. In that year, Wisconsin adopted its so-called “right to work” (RTW) law. Since then, earnings growth in Wisconsin slowed relative to Minnesota. In 2017, the average hourly earnings gap between Minnesota and Wisconsin was 42% greater than it…
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