Thirty years ago Shenzhen was an unremarkable small town that no one outside of southern Guangdong Province had even heard of. Mr. Moretti calculated such a multiplier effect by examining U.S. Census Bureau data from eight million workers in 320 areas during the past 30 years. I consider the Great Divergence to be one of the most important developments in the United States over the past thirty years. Rust Belt | Encyclopedia.com It will fall to other work to unravel how best to spin a lumpy economic geography into broad prosperity. Rust Belt Chic And The Keys To Reviving The Great Lakes These trends are reshaping the very fabric of our society. Fear of economic decline is widespread, and insecurity about Americas standing in the world and its economic future is growing. The Chinese call it the city with one high-rise a day and one boulevard every three days. As you walk along its wide streets, you feel the citys energy and optimism. 0000000852 00000 n . It reflects a broader national trend. Globalization, helped on by falling transportation and communication costs, robbed industrial clusters of their chief reason for beingnearness to suppliers, customers and transport hubs. Indeed, my research shows that for each new high-tech job in a city, five additional jobs are ultimately created outside of the high-tech sector in that city, both in skilled occupations (lawyers, teachers, nurses) and in unskilled ones (waiters, hairdressers, carpenters). New economic powerhouses are displacing old ones. Econ 151 New Geography of Jobs Assignment.doc - 1 Labor In just three decades it has gone from being a small fishing village to being a huge metropolis with more than 10 million residents. And despite all the hype about the death of distance and the flat world, where you live matters more than ever.Mark Mills, Forbes, Just finished Cal economist Enrico Morettis excellent The New Geography of Jobs.
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