Make Me a Match Rebroadcast December 20, Sure, markets generally work well. Below is a transcript of the episode, modified for your reading pleasure. For more information on the people and ideas in the episode, see the links at the bottom of this post.
New Entrepreneurial Growth Conference: Cities Entrepreneurship is a hyper-local phenomenon. People generally start businesses in the places they are already located, and many of the barriers entrepreneurs face and resources they access are at the local or regional level.
The spread of information technology has enhanced the importance of physical proximity, making cities the key geographic vehicle for entrepreneurial growth. In a series of discussions about entrepreneurial growth at the urban level, New Entrepreneurial Growth participants raised the ideas discussed below.
Location is important to economic output. One participant explained that there are a wide range of advantages to being in the best location for a chosen field, from reductions in shipping costs to abilities to capture more information and develop broader social networks.
This phenomenon is evident in the differences in the average wage of labor in each U. As a result, firms and specialized workers tend to cluster. We see, for example, that certain streets are filled with specific types of establishments, like restaurants in many cities or the diamond district in New York City.
The participant pointed out, however, that policymakers have systematically used public policy to spread people out and move people away from where they can be most productive. Not all cities want growth. The majority of cities or metro areas are, one panelist explained, overtly or tacitly anti-growth.
The participant identified three types of growth models based on the distinction between horizontal growth characterized by increases in GDP and population and vertical growth characterized by an increase in equality.
Horizontal Growth Cities e. The Bay Area, for example, does not want any more horizontal growth; citizens there are opposed to job growth and population growth, as more people in the area would only make the city more crowded and extend commute times.
Environmental constituencies in these areas are also strongly opposed to growth. Finally, No-Growth Cities e. Planning has an enormous effect on the ebbs and flows of the economy; growth in cities is not only due to the whim of the overall economy.
A panelist explained that cities have agency in achieving growth; they can take action to encourage growth through strong partnerships and getting people involved. Local governments need to focus on the local regulatory environment. Local governments do not have the structural power to change many of the macro forces they face.
Instead, they should focus on delivery of core public services, such as streets, schools, parks, and safety. Climate change, for example, is a global problem that requires a global solution; it is not a challenge that local government can solve.
While the locality needs to have the right regulations on climate issues and align them with national regulations, there is no need to mandate more regulations.
Similarly, we need to use caution when taking ideas out of New York City or San Francisco because they are so different from other cities. Convening stakeholders and facilitating dialogue is an important role for local government.
The best way for policymakers to accomplish more is to bring in people—from biotech and unions, to corporate and university leaders.
When a diverse group of people comes together to focus on these problems, the participant noted, they can be endlessly creative.
Government can both be part of the conversation and create a bridge to bring everyone in and start talking about solutions and strategies, as long as there is room for all parties to take action. Partnerships between the tech community and existing nonprofits, schools, and vocational programs could bring skills to the tech community and a creative energy that could add value to neighborhoods.
These efforts could create pathways out of poverty, bring more diverse backgrounds to the table, unleash community energy, and leverage local assets.
Reducing zoning and other restrictions will not necessarily lead to growth. The panelist suggested that the benefits of reducing zoning are exaggerated and that we need to find ways to align city priorities with development.
While people believe that reducing residential and other land-use restrictions would increase the supply of housing, the panelist suggested that it is politically unfeasible and the net benefit is exaggerated. Incentives for neighboring homeowners may make new housing construction more palatable.
Allowing neighbors to receive some of the taxes from developers for a specific period of time may make homeowners more receptive to development.
Principles of budgeting can be helpful for land use. A panelist suggested that we ask cities to target an amount of growth per year and not to restrict building until they hit this target.
This method would force the government to focus on overall growth, rather than on specific projects one at a time.the same statement falls a bit by the time of Alston et al.
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