Nov 8, 2011

Small is still beautiful.

These findings support the ideas of the economist Benjamin Chinitz, who argued 50 years ago that New York City was resilient—it could remake itself as economic conditions changed—while Pittsburgh was not, because New York had a remarkable history of entrepreneurship.
. . . Detroit’s history testifies to two important phenomena: first, the link between American entrepreneurship and employment; and second, the ability of a successful, big-firm industry to destroy a local culture of small-firm start-ups.
Seattle is doing very well:
[t]he best way to create a successful city is to found two world-class universities and wait 50 years . . . no one would start an engineering company in a city without engineers.
That is from Edgard Glaeser's article "Unleash the Entrepreneurs," reviewed by Mostly Economics.  

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