New Economic Geography

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pages: 606 words: 87,358

The Great Convergence: Information Technology and the New Globalization by Richard Baldwin

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3D printing, additive manufacturing, Admiral Zheng, agricultural Revolution, air freight, Amazon Mechanical Turk, Berlin Wall, bilateral investment treaty, Branko Milanovic, buy low sell high, call centre, Columbian Exchange, Commodity Super-Cycle, David Ricardo: comparative advantage, deindustrialization, domestication of the camel, Edward Glaeser, Erik Brynjolfsson, financial intermediation, George Gilder, global supply chain, global value chain, Henri Poincaré, imperial preference, industrial robot, invention of agriculture, invention of the telegraph, investor state dispute settlement, Isaac Newton, Islamic Golden Age, James Dyson, knowledge economy, knowledge worker, Lao Tzu, low skilled workers, market fragmentation, New Economic Geography, out of africa, paper trading, Pax Mongolica, profit motive, rent-seeking, reshoring, Richard Florida, rising living standards, Second Machine Age, Simon Kuznets, Skype, Snapchat, Stephen Hawking, telepresence, telerobotics, The Wealth of Nations by Adam Smith, trade liberalization, trade route, Washington Consensus

It is important to recognize two things about the pains of globalization. First, there is no gain from globalization without pain. Second, the solution to this dilemma is to establish a “social contract” that gives all citizens a stake in the gains and a share of the pains. The New Economic Geography The second package of economic logic, the New Economic Geography—known affectionately as NEG by aficionados—explains the riddle of uneven spatial development, which, simply put, is: How can lower trade cost—which should make distance matter less—produce such dramatically unbalanced distributions of economic activity such as cities, and the G7’s outsize share of world gross domestic product (GDP)?

See also comparative (competitive) advantage; coordination; land; offshoring; policies; smuggling; spillovers; tariffs and protectionism; unions, labor Netherlands, 56, 235. See also imperialists New Economic Geography (NEG) , 179, 186–196, 189f, 194f, 208–211, 214 The New Geography of Jobs (Moretti), 228, 233, 235 New Globalization (Phase Four) (second unbundling): control and, 174–175, 176; endogenous growth/New Economic Geography and, 193–196, 194f; industrialization and, 7, 8; know-how and, 139; mental models and, 112, 113; moving ideas and, 161–162; North-South back-and-forth trade and, 97; North-South borders and, 151; North-South shift in manufacturing and, 7, 86–89, 142–145; Old Globalization (first unbundling) compared, 6, 138–141, 142–176, 166f–169, 177–220, 221; pace of change and, 170–171, 174, 176; poverty and, 105, 108f, 162–163, 242; predictability and, 171–172, 176; protectionism and, 98, 99–102; summaries, 6, 7, 10–14, 19, 48f–49, 77–78, 109–110, 142–277; winners and losers, 160–164.

To account for the really broad-brush facts of globalization’s first unbundling, it is necessary to adjoin a few more elements to the Ricardian picture. The formal brushstokes were added by Nobel Prize–winning economist Paul Krugman and his coauthors Oxford professor Tony Venables and Kyoto professor Masahisa Fujita. The key ideas of the “new economic geography,” from their book The Spatial Economy, are explained in Chapter 6, but the main lines of logic can be extracted from the historical account in Chapter 2. FIGURE 39: Dynamic comparative advantage: trade, comparative advantage, innovation, and growth are all entwined. Globalization’s first acceleration (that is, the first unbundling) turned the world’s league tables on their head.

 

pages: 242 words: 68,019

Why Information Grows: The Evolution of Order, From Atoms to Economies by Cesar Hidalgo

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Ada Lovelace, Albert Einstein, Arthur Eddington, Claude Shannon: information theory, David Ricardo: comparative advantage, Douglas Hofstadter, frictionless, frictionless market, George Akerlof, Gödel, Escher, Bach, income inequality, income per capita, invention of the telegraph, invisible hand, Isaac Newton, James Watt: steam engine, Jane Jacobs, job satisfaction, John von Neumann, New Economic Geography, Norbert Wiener, p-value, phenotype, price mechanism, Richard Florida, Ronald Coase, Silicon Valley, Simon Kuznets, Skype, statistical model, Steve Jobs, Steve Wozniak, Steven Pinker, The Market for Lemons, The Nature of the Firm, The Wealth of Nations by Adam Smith, total factor productivity, transaction costs, working-age population

These include the neoclassical approaches of Paul Krugman, Masahisa Fujita, and Anthony Venables. As described by Krugman, the new economic geography is a theoretical effort to figure out why industries would locate in a certain location (agglomeration). The goal of the new economic geography is to develop general-equilibrium models that are completely endogenous. These are models where constraints on both money and resources are honored, and where supply, demand, and population are determined endogenously from the models. To achieve its goal, the new economic geography uses a number of theoretical tricks that help make these models tractable. These include the use of Dixit and Stiglitz’s monopolistic competition model (Avinash K.

In fact, early efforts to calibrate the models found that these have a tendency to agglomerate that was stronger than that observed in the real economy (see, for example, Paul Krugman, “What’s New About the New Economic Geography?,” Oxford Review of Economic Policy 14, no. 2 [1998]: 7–17), and more recent attempts to find evidence have generated more discussion than answers (see, for example, Stephen J. Redding, “The Empirics of the New Economic Geography,” Journal of Regional Science 50, no. 1 [2010]: 297–311). Another approach that hinges on individuals, albeit differently from the approach followed by the new economic geographers, is the work of urban theorist Richard Florida.

Norbert Wiener, The Human Use of Human Beings: Cybernetics and Society (Boston: Houghton Mifflin, 1950). CHAPTER 6: THIS TIME, IT’S PERSONAL 1. The question of which industries locate where and why has given rise to at least four theoretical streams of literature: the literature on industrial clusters, the “new economic geography” (which is the neoclassical stream of this literature), the economic geography literature focusing on institutions and culture, and the evolutionary economic geography literature. One could argue that these different strands of literature reflect academic alliances and divisions, but I will describe them not in terms of academic divisions but in terms of how they conceptualize sources of economic advantage and the patterns of industrial diversification and specialization found in different locations.

 

pages: 497 words: 144,283

Connectography: Mapping the Future of Global Civilization by Parag Khanna

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1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, Asian financial crisis, asset allocation, autonomous vehicles, banking crisis, Basel III, Berlin Wall, bitcoin, Black Swan, blockchain, borderless world, Boycotts of Israel, Branko Milanovic, BRICs, British Empire, business intelligence, call centre, capital controls, charter city, clean water, cloud computing, collateralized debt obligation, complexity theory, corporate governance, corporate social responsibility, credit crunch, crony capitalism, crowdsourcing, cryptocurrency, cuban missile crisis, data is the new oil, David Ricardo: comparative advantage, deglobalization, deindustrialization, dematerialisation, Deng Xiaoping, Detroit bankruptcy, diversification, Doha Development Round, edge city, Edward Snowden, Elon Musk, energy security, ethereum blockchain, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, forward guidance, global supply chain, global value chain, global village, Google Earth, Hernando de Soto, high net worth, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, labour market flexibility, labour mobility, LNG terminal, low cost carrier, manufacturing employment, mass affluent, megacity, Mercator projection, microcredit, mittelstand, Monroe Doctrine, mutually assured destruction, New Economic Geography, new economy, New Urbanism, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Peace of Westphalia, peak oil, Peter Thiel, Plutocrats, plutocrats, post-oil, post-Panamax, private military company, purchasing power parity, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, six sigma, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, Stuxnet, supply-chain management, sustainable-tourism, TaskRabbit, telepresence, the built environment, Tim Cook: Apple, trade route, transaction costs, UNCLOS, uranium enrichment, urban planning, urban sprawl, WikiLeaks, young professional, zero day

There are more such inter-city networks today than international organizations. 12. EUROPE FRAGMENTS AS IT GROWS TOGETHER Credit pai1.12 Europe has a substantial number of separatist movements, but even as it devolves, new nations can become members of the collective European Union (EU). 13. MEGACITIES AS THE NEW ECONOMIC GEOGRAPHY Credit pai1.13 Urban archipelagos represent a growing share of national economies. Moscow, São Paulo, Lagos, and Johannesburg are representative of growth markets where one city dominates the economic landscape. 14. AFRICA’S REMAINING FAULT LINES Credit pai1.14 Africa’s map still features many separatist movements that could lead to the creation of new states, as well as a large number of effectively autonomous provinces within African countries. 15.

Created by University of Wisconsin–Madison Cartography Laboratory. City Leadership Initiative; C40 Cities; University College London (UCL). pai1.12 Europe Fragments as It Grows Together. Created by University of Wisconsin–Madison Cartography Laboratory. Business Insider; European Free Alliance; Natural Earth; Wikipedia. pai1.13 Megacities as the New Economic Geography. Created by University of Wisconsin–Madison Cartography Laboratory. Brookings Institution; International Monetary Fund; Lagos Bureau of Statistics; Natural Earth; Oak Ridge National Library. pai1.14 Africa’s Remaining Fault Lines. Created by University of Wisconsin–Madison Cartography Laboratory.

 

pages: 1,205 words: 308,891

Bourgeois Dignity: Why Economics Can't Explain the Modern World by Deirdre N. McCloskey

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Admiral Zheng, agricultural Revolution, Albert Einstein, BRICs, British Empire, butterfly effect, Carmen Reinhart, clockwork universe, computer age, Corn Laws, dark matter, David Ricardo: comparative advantage, Donald Trump, Edward Lorenz: Chaos theory, European colonialism, experimental economics, financial innovation, Fractional reserve banking, full employment, George Akerlof, germ theory of disease, Gini coefficient, greed is good, Howard Zinn, income per capita, interchangeable parts, invention of agriculture, invention of air conditioning, invention of writing, invisible hand, Isaac Newton, James Watt: steam engine, John Maynard Keynes: technological unemployment, John Snow's cholera map, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, knowledge economy, means of production, Naomi Klein, New Economic Geography, New Urbanism, purchasing power parity, rent-seeking, road to serfdom, Robert Gordon, Ronald Coase, Ronald Reagan, Scientific racism, Scramble for Africa, Shenzhen was a fishing village, Simon Kuznets, Slavoj Žižek, spinning jenny, Steven Pinker, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, total factor productivity, transaction costs, tulip mania, union organizing, Upton Sinclair, urban renewal, V2 rocket, very high income, working poor, World Values Survey, Yogi Berra

The new growth theory in economics revives an idea of Alfred Marshall in 1919 and of Allyn Young in 1928 that bigger is better, if you have smart neighbors, especially in its economies-of-scale and especially in its economies-of-neighborhood form initiated by among others Paul Krugman and David Romer and Charles Sabel (the latter two, I am pleased to note, were my students as undergraduates; I wish Krugman had been, too: I would have taught him some intellectual humility). For example, people gathered in cities sometimes do a little better. But sometimes a little worse. The theories anyway are often a trifle exiguous. Though humility is not Krugman’s 155 most prominent virtue, he does charmingly admit that his version of the “new economic geography” shares some of these handicaps. He quotes against himself a “sarcastic physicist” as remarking, “So what you’re saying is that firms agglomerate [in cities; or in economic growth] because of agglomeration effects?”6 And measurements of such effects show them to be small, on the order of perhaps 10 percent.

Trans. 1903, reprinted pp. 57-93 in E. Capouya and K. Tompkins, eds. The Essential Kropotkin. New York: Liveright, 1975. Krugman, Paul. 1996. Pop Internationalism. Cambridge: MIT Press. Krugman, Paul. 1997. Development, Geography, and Economic Theory. Cambridge: MIT Press. Krugman, Paul. 2000. “Where in the World is the ‘New Economic Geography’?” Pp.49-60 in G. L. Clark, Maryann P. Feldman, and M. S. Gertler, eds., The Oxford Handbook of Economic Geography. Oxford: Oxford University Press. Kuhn, Steven L., Mary C. Stiner, David S. Reese, and Erksin Güleç. 2001. “Ornaments of the Earliest Upper Paleolithic: New Insights from the Levant.”

 

pages: 603 words: 182,781

Aerotropolis by John D. Kasarda, Greg Lindsay

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3D printing, air freight, airline deregulation, airport security, Akira Okazaki, Asian financial crisis, back-to-the-land, barriers to entry, Berlin Wall, big-box store, blood diamonds, borderless world, British Empire, call centre, carbon footprint, Clayton Christensen, cleantech, cognitive dissonance, conceptual framework, credit crunch, David Brooks, David Ricardo: comparative advantage, Deng Xiaoping, deskilling, edge city, Edward Glaeser, failed state, food miles, Ford paid five dollars a day, Frank Gehry, fudge factor, full employment, future of work, Geoffrey West, Santa Fe Institute, George Gilder, global supply chain, global village, gravity well, Haber-Bosch Process, Hernando de Soto, hive mind, if you build it, they will come, illegal immigration, inflight wifi, interchangeable parts, intermodal, invention of the telephone, inventory management, invisible hand, Jane Jacobs, Jeff Bezos, Kangaroo Route, knowledge worker, kremlinology, labour mobility, Marshall McLuhan, Masdar, McMansion, megacity, Menlo Park, microcredit, Network effects, New Economic Geography, new economy, New Urbanism, oil shale / tar sands, oil shock, peak oil, Peter Thiel, pets.com, pink-collar, pre–internet, RFID, Richard Florida, Ronald Coase, Ronald Reagan, savings glut, Seaside, Florida, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, spinning jenny, stem cell, Steve Jobs, supply-chain management, sustainable-tourism, telepresence, the built environment, The Chicago School, The Death and Life of Great American Cities, The Nature of the Firm, thinkpad, Thomas L Friedman, Thomas Malthus, Tony Hsieh, trade route, transcontinental railway, transit-oriented development, traveling salesman, trickle-down economics, upwardly mobile, urban planning, urban renewal, urban sprawl, walkable city, white flight, Yogi Berra

It might be reflected in property values around the hub, or in rents and occupancy rates for office and warehouse space. It can even be seen in the average household incomes of local residents—$172,945 in Southlake, compared to $105,000 in Virginia’s Loudon and Fairfax counties, which share Dulles. The aerotropolis represents what Kasarda describes as a new economic geography, which takes the relationship of location and connectivity into account and prices their true worth accordingly. He didn’t have a chance to apply his theorem to DFW; someone beat him to it. The Aerotropolis on the Hills A few of the glittering towers featured in the opening credits of Dallas are found not downtown but on DFW’s eastern flank, opposite Southlake and Euless.

It’s the largest business district from here to Chicago. Carpenter intuitively understood Kasarda’s Law, and so do his disciples at the local Chamber of Commerce. “We sell three things,” its executive director told me, “location, accessibility, and speed.” As sterile as it sounds, Las Colinas is proof of this new economic geography. Fluor’s peripatetic executives turn out to be the exception, not the rule. The majority of inhabitants shuttle only between their cubicles and home. What’s changed is the premium tenants pay for the potential connectivity of the airport. It’s ten minutes away if they need it, and often they do— more and more, in fact.

 

pages: 250 words: 88,762

The Logic of Life: The Rational Economics of an Irrational World by Tim Harford

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affirmative action, Albert Einstein, Andrei Shleifer, barriers to entry, Berlin Wall, colonial rule, Daniel Kahneman / Amos Tversky, double entry bookkeeping, Edward Glaeser, en.wikipedia.org, endowment effect, European colonialism, experimental economics, experimental subject, George Akerlof, income per capita, invention of the telephone, Jane Jacobs, John von Neumann, law of one price, Martin Wolf, mutually assured destruction, New Economic Geography, new economy, Plutocrats, plutocrats, Richard Florida, Richard Thaler, Ronald Reagan, Silicon Valley, spinning jenny, Steve Jobs, The Death and Life of Great American Cities, the market place, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thomas Malthus, women in the workforce

Jaffe, Manuel Trajtenberg, and Rebecca Henderson, “Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations,” Quarterly Journal of Economics 108, no. 3(August 1993): 577–98. I also interviewed Adam Jaffe in November 2006. To see the reason: The canonical model of this argument is the paper that launched the so-called New Economic Geography, Paul Krugman’s elegant “Increasing Returns and Economic Geography,” Journal of Political Economy 99, no. 3(June 1991): 483–99. This and many other Krugman academic papers are available at math.stanford.edu/~lekheng/ krugman/index.html. Looking at the location: David B. Audretsch and Maryann P.

 

pages: 344 words: 94,332

The 100-Year Life: Living and Working in an Age of Longevity by Lynda Gratton, Andrew Scott

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3D printing, Airbnb, carbon footprint, Clayton Christensen, collapse of Lehman Brothers, crowdsourcing, delayed gratification, diversification, Downton Abbey, Erik Brynjolfsson, falling living standards, financial independence, first square of the chessboard, first square of the chessboard / second half of the chessboard, future of work, gender pay gap, gig economy, Google Glasses, indoor plumbing, information retrieval, Isaac Newton, job satisfaction, low skilled workers, Lyft, Network effects, New Economic Geography, pattern recognition, pension reform, Peter Thiel, Ray Kurzweil, Richard Florida, Richard Thaler, Second Machine Age, sharing economy, side project, Silicon Valley, smart cities, Stephen Hawking, Steve Jobs, women in the workforce, young professional

., What Millennials Want from Work: How to Maximize Engagement in Today’s Workforce (Center for Creative Leadership; McGraw-Hill, 2016). 15Scharmer, Theory U. 16The novel The Makers by Corey Doctorow is a good fictional explanation of this lifestyle and accreditation process although that novel focuses on how these trends subvert existing organizational trends. 17http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2015/05/kauffman_index_startup_activity_national_trends_2015.pdf 18See Moretti, ‘The New Economic Geography of Jobs’ for a detailed analysis of this specific issue; or Glaeser, E., ‘Triumph of the City’ (Macmillan, 2011) for the general advantages of cities in terms of innovation and creativity from connectedness, scale and competition. 19http://www.economist.com/news/leaders/21573104-internet-everything-hire-rise-sharing-economy 20Ibarra, H., Working Identity: Unconventional Strategies for Reinventing Your Career (Harvard Business School Press, 2003).

 

pages: 361 words: 97,787

The Curse of Cash by Kenneth S Rogoff

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Andrei Shleifer, Asian financial crisis, bank run, Ben Bernanke: helicopter money, Berlin Wall, bitcoin, blockchain, Bretton Woods, capital controls, Carmen Reinhart, cashless society, central bank independence, cryptocurrency, debt deflation, distributed ledger, Edward Snowden, ethereum blockchain, eurozone crisis, Fall of the Berlin Wall, fiat currency, financial intermediation, financial repression, forward guidance, frictionless, full employment, George Akerlof, German hyperinflation, illegal immigration, inflation targeting, informal economy, interest rate swap, Isaac Newton, Johann Wolfgang von Goethe, Kenneth Rogoff, labor-force participation, large denomination, liquidity trap, money: store of value / unit of account / medium of exchange, moral hazard, moveable type in China, New Economic Geography, offshore financial centre, oil shock, open economy, payday loans, price stability, purchasing power parity, quantitative easing, RAND corporation, RFID, savings glut, secular stagnation, seigniorage, The Great Moderation, the payments system, transaction costs, unbanked and underbanked, unconventional monetary instruments, underbanked, unorthodox policies, Y2K, yield curve

In Proceedings of the Kansas City Federal Reserve Bank Symposium on Monetary Policy and Uncertainty: Adapting to a Changing Economy, Jackson Hole, WY, August 28–30, 2003. Kansas City Federal Reserve Bank. ———. 2007. “Impact of Globalization on Monetary Policy.” In Proceedings of the Kansas City Federal Reserve Bank Symposium on the New Economic Geography: Effects and Policy Implications, Jackson Hole, WY, August 2006. Kansas City Federal Reserve Bank. ———. 2008. “Inflation Is Now the Lesser Evil.” Project Syndicate, December. Available at http://www.project-syndicate.org/commentary/inflation-is-now-the-lesser-evil. ———. 2014. “Costs and Benefits to Phasing Out Paper Currency.”

 

pages: 477 words: 135,607

The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger by Marc Levinson

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air freight, anti-communist, barriers to entry, Bay Area Rapid Transit, British Empire, call centre, collective bargaining, conceptual framework, David Ricardo: comparative advantage, deindustrialization, deskilling, Edward Glaeser, Erik Brynjolfsson, full employment, global supply chain, intermodal, Isaac Newton, job automation, knowledge economy, Malcom McLean invented shipping containers, manufacturing employment, Network effects, New Economic Geography, new economy, oil shock, Panamax, Port of Oakland, post-Panamax, Productivity paradox, refrigerator car, South China Sea, trade route, Works Progress Administration, Yom Kippur War

Poor countries, desperate to climb the rungs of the ladder of economic development, could realistically dream of becoming suppliers to wealthy countries far away. Huge industrial complexes mushroomed in places like Los Angeles and Hong Kong, only because the cost of bringing raw materials in and sending finished goods out had dropped like a stone.1 This new economic geography allowed firms whose ambitions had been purely domestic to become international companies, exporting their products almost as effortlessly as selling them nearby. If they did, though, they soon discovered that cheaper shipping benefited manufacturers in Thailand or Italy just as much. Those who had no wish to go international, who sought only to serve their local clientele, learned that they had no choice: like it or not, they were competing globally because the global market was coming to them.

 

pages: 566 words: 163,322

The Rise and Fall of Nations: Forces of Change in the Post-Crisis World by Ruchir Sharma

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3D printing, Asian financial crisis, backtesting, bank run, banking crisis, Berlin Wall, Bernie Sanders, BRICs, business climate, business process, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, central bank independence, centre right, colonial rule, Commodity Super-Cycle, corporate governance, crony capitalism, currency peg, dark matter, debt deflation, deglobalization, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, Doha Development Round, Donald Trump, Edward Glaeser, Elon Musk, eurozone crisis, failed state, Fall of the Berlin Wall, falling living standards, Francis Fukuyama: the end of history, Freestyle chess, Gini coefficient, hiring and firing, income inequality, indoor plumbing, industrial robot, inflation targeting, Internet of things, Jeff Bezos, job automation, Joseph Schumpeter, Kenneth Rogoff, knowledge economy, labor-force participation, Malacca Straits, Mark Zuckerberg, market bubble, megacity, Mexican peso crisis / tequila crisis, mittelstand, moral hazard, New Economic Geography, North Sea oil, oil rush, oil shale / tar sands, oil shock, pattern recognition, Peter Thiel, pets.com, Plutocrats, plutocrats, Ponzi scheme, price stability, Productivity paradox, purchasing power parity, quantitative easing, Ralph Waldo Emerson, random walk, rent-seeking, reserve currency, Ronald Coase, Ronald Reagan, savings glut, secular stagnation, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Simon Kuznets, smart cities, Snapchat, South China Sea, sovereign wealth fund, special economic zone, spectrum auction, Steve Jobs, The Wisdom of Crowds, Thomas Malthus, total factor productivity, trade liberalization, trade route, tulip mania, Tyler Cowen: Great Stagnation, unorthodox policies, Washington Consensus, WikiLeaks, women in the workforce, working-age population

Essien, Victor. “Regional Trade Agreements in Africa: A Historical and Bibliographic Account of ECOWAS and CEMAC.” NYU Global, 2006. “Fortnightly Thoughts: Brighter Lights, Bigger Cities.” Goldman Sachs Global Investment Research, November 21, 2013. Fujita, Masahisa, and Paul Krugman. “The New Economic Geography: Past, Present, and the Future.” Papers in Regional Science 83 (2004): 139–64. Glaeser, Edward L., and Albert Saiz. “The Rise of the Skilled City.” National Bureau of Economic Research, Working Paper no. 10191, December 2003. Guha, Ramachandra. “Ideas of Public Service.” Telegraph, July 11, 2015.

 

pages: 537 words: 200,923

City: Urbanism and Its End by Douglas W. Rae

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agricultural Revolution, barriers to entry, business climate, City Beautiful movement, complexity theory, desegregation, edge city, ghettoisation, income per capita, informal economy, interchangeable parts, invisible hand, James Watt: steam engine, Jane Jacobs, joint-stock company, Joseph Schumpeter, manufacturing employment, New Economic Geography, new economy, New Urbanism, Plutocrats, plutocrats, Saturday Night Live, the built environment, The Death and Life of Great American Cities, the market place, urban planning, urban renewal, War on Poverty, white flight, Works Progress Administration

No store can be insured against the disappearance of its customers or the obsolescence of its merchandise. No profitable line of business—from hotels to stores specializing in caged birds, from stationery stores to saloons—will stand for long undisturbed by the curiosity of would-be competitors. No place—city, suburb, hamlet, or farmstead—is secure against the emergence of a new economic geography that drains vital populations and investments in the space of a few decades. In seeking ever fresh forms of production, ever larger markets, ever higher returns on investment, capitalism routinely destroys older ways of doing business, older technologies, older plants—and in so doing profoundly transforms the communities that have formed around them.

 

pages: 740 words: 161,563

The Discovery of France by Graham Robb

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Brownian motion, deindustrialization, Honoré de Balzac, Louis Pasteur, New Economic Geography, Peace of Westphalia, price stability, trade route, urban sprawl

These missionary organizations trained guides and porters, persuaded rival villages to work together, laid out signposted walks and organized ‘caravanes scolaires’ and ‘colonies de vacances’ for schoolchildren. They also encouraged hotels to display their prices and not overcharge tourists. Long before paid holidays for workers were introduced in 1936, a new economic geography of France was taking shape: the Vosges were the Alps of the petite bourgeoisie, and the mountains of the Auvergne were the poor man’s Pyrenees.40 The touring clubs were pioneers in the tradition of the eighteenth-century map-makers. They not only popularized obscure parts of France, they also discovered them.