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By D. Robinson

This definitive paintings mixes case legislations, public coverage, monetary method, and examines the wide variety of matters dealing with efforts to enhance the yankee financial system, to demonstrate how monetary progress is pushed via robust public-private partnerships, and the way winning development suggestions from the country and native point function to develop jobs.

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Extra info for Economic Development from the State and Local Perspective: Case Studies and Public Policy Debates

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There is no doubt the Inner Harbor transformed into a national tourist attraction that creates convention, conference, and other businesses that were not there before. This approach by Baltimore has been replicated all over America. Highwage, working-class jobs have been replaced by low-wage tourist and entertainment jobs. The question is whether this economic transformation is a good one for Baltimore and other regions’ residents and whether it has turned the city and region around. No one can claim Baltimore has not been fighting urban decline in the past 60 years, but the question is whether their strategy has been working.

Based upon the neoclassical view of economics, a market-oriented approach to economic development dictates that economic systems will reach a natural balance if capital can flow without restriction from high-cost areas to low-cost areas. Poor communities will naturally draw business away from high-cost, rich areas based upon the cost of doing business. Adam Smith’s famous book An Inquiry into the Nature and Causes of the Wealth of Nations acts as the intellectual basis for a market-oriented economic development approach.

17 Again, nothing new about these data-based services, but many small businesses do not have the staff or expertise to utilize this information. 18 Economic gardening brings a community’s infrastructure to the benefit of gazelles. This not only acts as a justification for public investments in hard and soft infrastructure but also brings to the benefit of gazelles the “smart” people in a community who understand marketing, legal, management, and accounting issues facing growing companies. Connections are the final element of economic gardening.

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