Michael Storper, Thomas Kemeny, Naji Philip Makarem, and Taner Osman
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780804789400
- eISBN:
- 9780804796026
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804789400.003.0006
- Subject:
- Business and Management, Innovation
Regional economic development is shaped by many policies, which are implemented by national governments, regional and state governments, and local governments. But local economic development policies ...
More
Regional economic development is shaped by many policies, which are implemented by national governments, regional and state governments, and local governments. But local economic development policies in Greater Los Angeles and the San Francisco Bay Area since 1970 had little to do with the economic divergence of these two regions. In reality, many so-called economic development policies have little to do with economic development as such, instead emphasizing land use changes and competition for sales tax revenue rather than industry and job development. Many of the problems with local planning and development policies in the United States in general are exemplified by the comparison of the San Francisco Bay Area and Greater Los Angeles.Less
Regional economic development is shaped by many policies, which are implemented by national governments, regional and state governments, and local governments. But local economic development policies in Greater Los Angeles and the San Francisco Bay Area since 1970 had little to do with the economic divergence of these two regions. In reality, many so-called economic development policies have little to do with economic development as such, instead emphasizing land use changes and competition for sales tax revenue rather than industry and job development. Many of the problems with local planning and development policies in the United States in general are exemplified by the comparison of the San Francisco Bay Area and Greater Los Angeles.
Michael Storper, Thomas Kemeny, Naji Philip Makarem, and Taner Osman
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780804789400
- eISBN:
- 9780804796026
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804789400.003.0010
- Subject:
- Business and Management, Innovation
High-wage specialization comes from a complex sequence involving entrepreneurship, encouragement by local robust actors or leaders, breakthrough innovations, new organizational practices, the ...
More
High-wage specialization comes from a complex sequence involving entrepreneurship, encouragement by local robust actors or leaders, breakthrough innovations, new organizational practices, the emergence of supportive overall relational infrastructure and networks, the proliferation of new specialized brokers and dealmakers, the diffusion of conventions or rules of thumb for doing business in new ways, and ultimately the consolidation of major firms. What is common to all processes of successful respecialization of a region’s economy is the emergence of the right kinds of networks, organizational practices, worldviews, and beliefs for the region’s evolving economic specializations. It is crucial to align understandings and change expectations so as to change policy agendas and to open up new forms of private action. When regional conversations are outdated, the process of organizational adjustment is stymied, as it has been in Los Angeles for 40 years. Old conversations must not crowd out new ones.Less
High-wage specialization comes from a complex sequence involving entrepreneurship, encouragement by local robust actors or leaders, breakthrough innovations, new organizational practices, the emergence of supportive overall relational infrastructure and networks, the proliferation of new specialized brokers and dealmakers, the diffusion of conventions or rules of thumb for doing business in new ways, and ultimately the consolidation of major firms. What is common to all processes of successful respecialization of a region’s economy is the emergence of the right kinds of networks, organizational practices, worldviews, and beliefs for the region’s evolving economic specializations. It is crucial to align understandings and change expectations so as to change policy agendas and to open up new forms of private action. When regional conversations are outdated, the process of organizational adjustment is stymied, as it has been in Los Angeles for 40 years. Old conversations must not crowd out new ones.
