Growth Does Not Equal Productivity
Richard Florida writes that population growth and wealth do not go hand in hand -- wealth comes from improvements in productivity. In fact, some of the areas with the biggest leaps in population are suffering real declines in wealth.
Cities that you might not expect, writes Florida, have seen increases in productivity and wealth, such as Sioux Falls, South Dakota and Des Moines, Iowa:
"Even Frostbelt metros like Buffalo, Baltimore, Philadelphia and Pittsburgh, whose very names have become bywords for decline, registered productivity gains of between 7 and 10 percent. But the five metros with the fastest population growth all saw their productivity decline. Palm Coast, Florida's dropped a whopping 18 percent, the fourth worst figure in the nation."
Florida's blog features maps that tell the story.
Full Story:
Published on Saturday, April 9, 2011 in
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