martedì 13 luglio 2010

Why We Need a Full-on Reset

ancora iù chiaramente : non è solo una recessione e c'è biogno di un reset generale ...saranno all'altezza i policy makers

 
 

Inviato da buzzico54 tramite Google Reader:

 
 

tramite Creative Class di Richard Florida il 03/07/10

More and more economic experts are saying the U.S. economy is headed for a "double-dip" recession. But actually it's much more – and much more serious than that. Earlier this week, Paul Krugman speculated that the U.S. is headed for a Third Great Depression, noting that while recessions are relatively common and depressions quite rare, he fears our current economic circumstance is coming to look more like the Great Depression of the 1930s or the Long Depression of the late 19th century.

The first chart below from David Leonhardt of The New York Times shows the recent downturn in private-sector unemployment.

The second chart from Leonhardt's Times colleague Catherine Rampell (one of the most statistically savvy reporters around) compares the current economic downturn to previous ones. Krugman's point taken: This doesn't look like any run-of-the-mill downturn.

While some do not want to face the looming reality, it is becoming clearer every single day that what we face is not any typical recession but a full-blown economic reset. My own look at the previous two similar crises shows that Great Resets like what we are now going through are generation-spanning events which require deep changes in economic, institutional, and spatial structures.

Are our economic policy-makers ready for the enormity of the challenges we face - the deep and fundamental changes in our economic system, from what we produce to what we consume – required to restore economic prosperity?


 
 

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Un grande Reset


The Great Reset
Come i nuovi modi di vivere e di lavorare prteranno alla prosperità dopo il Crash

Richard Florida, bestselling author of Who's Your City? and The Rise of the Creative Class, returns with a much-needed and original vision as we emerge from the economic downturn, illuminating the incredible opportunity our times present for rethinking our future........

giovedì 1 luglio 2010

Geografie di Scopo

Eh l'idea di definire e riorientare le priorità in base a geografie di scopo, potrebe dare nuove indicazioni , anche per l'europa e l'Italia

tramite Creative Class di Richard Florida il 30/06/10

Economists and geographers have looked at the role of scale economies in shaping industries and also in the the clustering or agglomeration of economic activity. Princeton University economist William Baumol identified the role of economies of scope – for example, when large companies leverage shared research and development or marketing capabilities across their product lines or even used the same assembly lines to make different products. The theory of scope economies has been influential in economics and business studies but has not really been applied or discussed in economic geography or regional terms.

A new study with my Martin Prosperity Institute colleagues Charlotta Mellander and Kevin Stolarick explores the role economies of scope in shaping geographic outcomes, advancing a concept we call geographies of scope. Here's the abstract:

The geographic clustering of economic activity has long been understood in terms of economies of scale across space. This paper introduces the construct of geographies of scope. We distinguish between geographies of scope and the more commonly understood notions of economic diversity or geographic spillovers. Following research by Baumol and others (e.g. Baumol et al.., 1982) who define economies of scope as the efficiencies gained from sharing common inputs (from leveraging R&D or marketing departments across products to producing two products on a single assembly line), we argue that geographic economies of scope are driven by substantial, large-scale geographic concentrations of related skills, inputs and capabilities. We examine this through an empirical analysis of the entertainment industry across U.S. metropolitan areas from 1970-2000. We use a variety of statistical techniques to probe for the effects of collocation of key related entertainment segments while controlling for the effects of scale or region size. The findings of our regression analysis indicate that geographies of scope (or collocation among key related entertainment subsectors and inputs) explain more of the economic geography of entertainment than does our scale variable (population size), though our regressions over time suggest the role of scope is decreasing. Furthermore, we find that the entertainment sector as a whole and its key subsectors are significantly concentrated in two superstar cities – New York and Los Angeles – far beyond what their population size (or scale effects) can account for, while the pattern falls off dramatically for other large regions. Thus we find that scale economies are a necessary but insufficient factor for explaining the economic geography of entertainment: The rest of the explanation comes from scope economies – that is, the large-scale concentrations of related skills, inputs and capacities in geographic space.

The full paper is here.


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