In a virtuous circle, migration and innovation make the world go round.
Theme: Innovation geography
Subject Article: "In the age of disruptive innovation, adaptability is what matters most."
Other Links: 1. "Space and the city: Poor land use in the world’s greatest cities carries a huge cost."
Postscript: This post was inspired by the latest paper from Chang-Tai Hsieh and Enrico Moretti, "Why Do Cities Matter? Local Growth and Aggregate Growth." Artificial housing supply constraints are deemed to be a drag on economic output. That assumes lower housing prices would allow more people to live in the most productive places. That is, lower housing prices would beget higher population. Which raises the question, how much do housing prices affect inter-regional migration and population change?
1 comment:
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Which raises the question, how much do housing prices affect inter-regional migration and population change?
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I think that's a great question. I'm most curious is how small cities may grow in that sense. How many more jobs would Marvin Windows have in Warroad if there was more local housing available instead of expanding in Tennessee and Fargo? Or would Thief River Falls have as many jobs as Duluth or Grand Forks by now if Digikey and Artic Cat expanded purely in town over the years.
Example of latest expansion. Arctic Cat in other articles does mention expanding despite the lack of housing in Thief River Falls.
http://www.bizjournals.com/twincities/morning_roundup/2015/05/arctic-cat-expansion-st-cloud-thief-river-falls.html
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