Wednesday, July 16, 2014

Not About LeBron James: Economic Restructuring in Cleveland

LeBron James moved back to Northeast Ohio because that's where the action is at Pacific Standard magazine.

Theme: Legacy Economy and return migration.

Subject Article: "Cleveland has been on the rebound even before LeBron James news."

Other Links: 1. "The Center for Population Dynamics: Reports and Blogs."
2. "The LeBron James Story Has Always Been A Tale Of Two Cities."
3. "Is LeBron James Now The Most Powerful Person In Cleveland? No -- This Guy Is."
4. "Eds And Meds Economic Geography."
5. "The Pseudoscience of Jane Jacobs and Innovation Districts."
6. "This guy is nuts (end of story) ..."
7. "Jane Jacobs: Why Urban Planning’s Legendary Heroine is Famous for a Reason."
8. "Illusion of Local: Why Zoning for Greater Density Will Fail to Make Housing More Affordable."
9. "Cleveland's healthcare jobs power shifting from hospitals to research labs."
10. "Captive Labor Markets and Migration."

Postscript: In Northeast Ohio:

The study found that the medical sector has grown by 20 percent since the turn of the century, adding 177,000 jobs and offsetting losses in other industries. Momentum stalled during the recession but Moody's projects the industry will add another 6,000 to 8,000 jobs over the next few years, Team NEO reports.

I don't know how much of medical sector growth is of the diverging tradable sort. But those kind of jobs drive migration and are associated with brain gain (i.e. more people with college degrees moving into the region than leaving). Furthermore, tradable Innovation Economy jobs are converging. Cleveland didn't benefit much from "The New Geography of Jobs." But that world is getting less spiky by the day. Your choice: Cleveland rich, or San Francisco poor?"

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