Global culture and economy increasingly stem from what three regions and what three cities9/23/2023 ![]() By contrast, many of the nation’s smaller cities, small towns, and rural areas have languished. communities based on measures of growth and wages) began to consistently grow faster than the median and least-prosperous cities.īy the present decade, a clear rank-ordered hierarchy of economic performance by community size had emerged.īig, techy metros like San Francisco, Boston, and New York with populations over 1 million have flourished, accounting for 72 percent of the nation’s employment growth since the financial crisis. However, in the 1980s, that long-standing trend began to break down as the spread of digital technology increasingly rewarded the most talent-laden clusters of skills and firms.Īs the economy changed, convergence gave way to divergence, as a fortunate upper tier of big, dense metropolitan areas (the top 2 percent of U.S. By closing the divides between regions, the economy ensured a welcome convergence among the nation’s communities. ![]() While it is true that many American leaders had grown disconnected from a significant portion of the country, something else had happened, too: the nation’s economic trends had changed.įor much of the 20th century, market forces had reduced job, wage, investment, and business formation disparities between more- and less-developed regions. ![]() This gap between two American geographies came as a shock to many observers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |