Is America entering a phase of irreversible decline? description\/a> \" American rust -- Smart labor: microchips, movies, and multipliers -- The great divergence -- Forces of attraction -- The inequality of mobility and cost of . In the late 1960s, the two cities had schools of comparable quality and similar crime rates, although Menlo Park had a slightly higher incidence of violent crime, especially aggravated assault. Thirty years ago Shenzhen was an unremarkable small town that no one outside of southern Guangdong Province had even heard of. In The New Geography of Jobs, award-winning Berkeley economist Enrico Moretti looks at the major shifts taking place in the US economy and reveals the surprising winners and losers specifically, which kinds of jobs will drive economic growth and where they'll be located while exploring . Later we will discover why this is the case. The two trends represent the fuel powering the rise of skilled cities. By contrast, Visalia has the second lowest percentage of college-educated workers in the country, almost no residents with a postgraduate degree, and one of the lowest average salaries in America. And if you dont read New Geography, you would also miss reading the best, most readable explanation and defense of innovation, knowledge-based economics and their effects on the location of jobs in the United States. trailer << /Size 22 /Prev 19591 /Info 7 0 R /Root 9 0 R >> startxref 0 %%EOF 9 0 obj << /Type /Catalog /Pages 10 0 R >> endobj 10 0 obj << /Type /Pages /Kids [ 11 0 R 1 0 R ] /Count 2 >> endobj 20 0 obj << /Length 21 0 R /S 46 /Filter /FlateDecode >> stream "The Atlantic, "Professor Moretti is a visionary scholar and one of the most important new voices in economics. You probably have, A reexamination of classical economic theory and methods, by a senior economist of international stature Thomas Sowell's many writings on the history of economic thought have appeared in a number. Reviews aren't verified, but Google checks for and removes fake content when it's identified, Enrico Moretti is a professor of economics at the University of California, Berkeley, whose research has been supported by the National Science Foundation, the National Institutes of Health and has been featured in the. Moretti paints a compelling portrait of the innovative city as engine of growth, while pinpointing its complicity in the economic challenges facing developed countries. Highly skilled people not only work together but increasingly marry each other, such that big metropolitan economies have a strong attractive force for two-earner couples. We are used to thinking of the United States in dichotomous terms: red versus blue, black versus white, haves versus have-nots. Moretti provides a sweeping summary of the new stylized facts of metropolitan growth. Globalization provides the means to cheaply churn out millions of the devices, and a market for the products just as large. Innovative cities provide a fertile ecosystem for start-up businesses, he notes, consisting of suppliers, advisers and venture capital: forward and backward linkages spruced up for the Internet era. Morettis work hints at but does not confront the possibility of a trade-off between the innovative capacity of a city and its ability to generate good-paying jobs for less-skilled workers. As it turns out, however, innovation matters not only for the well-educated workers who are directly employed by high-tech firmsthe scientists, engineers, and creators of new ideasbut for most American workers. A new map is being drawn, the inevitable result of deep-seated but rarely discussed economic forces. This means that for the first time in recent American history, the average worker has not experienced an improvement in standard of living compared to the previous generation. Studies show that the more innovative a company is, the better paid its employees are. A great summary of Moretti's and other economists' research on why highly skilled workers tend to be attracted to cities, and why some cities become "innovation hubs" that make everyone who works , UC Berkeley professor of economics Enrico Moretti, in "The New Geography of Jobs," creates a wonderful complement to Richard Florida's books (e.g., "The Rise of the Creative Class" and "Whos Your . It is this new map that University of California, Berkeley economist Enrico Moretti describes in detail in his book The New Geography of Jobs. Deep labor markets are crucial, facilitating job matches among highly specialized workers and insuring would-be entrepreneurs against failure. What used to be tiny, barely visible dots on the map have turned into thriving megalopolises with thousands of new companies and millions of new jobs. These trends are reshaping the very fabric of our society. But innovation is not limited to high technology. web pages Menlo Park is a lively community in the heart of Silicon Valley, just minutes from Stanford Universitys manicured campus and many of the Valleys most dynamic high-tech companies. The New Geography of Jobs is the sort of economics that should be widely read, digested, and discussed. But today there are three Americas. "The Digital Quad, "The message of his very well written and prize winning book is important. There are entertainment innovators, environmental innovators, even financial innovators. Why should they care about the rise of innovation? Menlo Park keeps attracting small and large high-tech employers, including most recently the new Facebook headquarters. Copyright 2001-2023 OCLC. We are used to thinking of the United States in dichotomous terms: red versus blue, black versus white, haves versus have-nots. Without referring to Charles Murray, Moretti blowsComing Aparttotally out of the water, replacing Murray's moralistic sociology with solid economics. Unfortunately, they tend to be obscured by the flood of data on the fluctuations of the stock market or the latest employment numbers. In The New Geography of Jobs, award-winning Berkeley economist Enrico Moretti looks at the major shifts taking place in the US economy and reveals the surprising winners and losers specifically, which kinds of jobs will drive economic growth and where they'll be located while exploring how communities can transform themselves into dynamic innovation hubs."A timely and smart . Ideaslike the ingenuity embodied in a new piece of softwareare costly to produce but can cheaply be applied at great scale once invented. Technological innovations, economic aspects, marc_openlibraries_sanfranciscopubliclibrary, Smart labor: microchips, movies, and multipliers, The inequality of mobility and cost of living. Introduction1 1. One new high-tech job in a metropolitan area, however, may spur the creation of five additional service-sector jobs. From a rising young economist, an examination of innovation and success, and where to find them in America. Cities with many college-educated workers started attracting even more, and cities with a less educated workforce started losing ground. Cities with a high percentage of skilled workers offer high wages not just because they have many college-educated residents and these residents earn high wages. Meanwhile, the market for software is exploding, thanks to improvements in information technology, globalization and growth in emerging markets. . 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