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hst2

If Trump voters want jobs, they should move to cities

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"Moretti demonstrates that there really are two Americas -- one that's healthy, rich and growing, and a second that's increasingly being left behind. The two nations-within-a-nation are divided not so much by region or race or religion, but by the kinds of industries they support. Those cities and towns that are home to innovative industries -- information technology, pharmaceuticals, advanced manufacturing and the like -- are wealthier, healthier and safer, while the places without these industries are steadily declining.

 

...One solution Moretti suggests is to help more people move to the innovation hubs. As things stand, many of the best-performing cities limit their populations with development restrictions. Creating more density in cities such as Austin, Texas, San Francisco and San Diego would benefit service workers and low-income people, who Moretti shows do better in these cities even after accounting for local living costs. It would also allow low-income people to move out of the depressed, stagnant towns. That would reduce rent costs in those declining areas, as well as making local job competition less intense.

 

...Trump's economic team needs to read Moretti's book. Writing angry tweets at companies that open factories in Mexico won't create good jobs for American workers. But expanding universities and allowing greater urban density just might do the trick. If Trump and his people can't do this, the Democrats should make it a pillar of their own economic strategy. There is no way back for the U.S. economy -- only forward, further into the innovation age."

 

https://www.bloomberg.com/view/articles/2017-03-07/trump-s-industrial-rebirth-is-a-dead-end

Edited by hst2

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Pittsburgh, my hometown, has made a remarkable economic recovery after big steel collapsed.

 

No small part of this has been universities attracting businesses. CMU with robotics and Pitt with medical research.

 

What was great to see was how not only did these schools cooperate with each other, but they aggressively pursued partnering with the local/regional govts to attract businesses and to foster start ups.

 

Another unsung hero was the head of PNC, the dominant bank and mortgage lender in the market, a guy named Jim Ruhr. He refused to get sucked into high risk mortgages backed by crazy financial instruments. So the region dodged that bullet.

 

I'll have to get the book you reference, thx.

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