There's more to economic development than microfinance and investment banking. Indiana University School of Public and Environmental Affairs Professor David Audretsch argues that economic growth is best cultivated in cultural pockets or hotspots, where innovators can riff off one another and create a vibrant industry. I wrote about this phenomenon in SPEA Magazine, which is available online here.
Here's the opener:
How did Paris become synonymous with romance?
Why is New York City the place for live theater?
What made Silicon Valley the center of the dot-com boom?
The answers lie in the field of localized economic development ... more on page 17.
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