Knowledge is not an excludable good.
I have been thinking a lot lately about what drives economic growth and who shares in it. There are a lot of explanations out there, and I expect that we will hear a lot more theories about uneven growth in the months and years to come.
Thinking about what powers our economic growth, education exerts an increasing influence on the distribution of benefits (Figure 1). Earnings are higher and unemployment is lower as the level of individual educational attainment increases. Continue reading “Education and Growth”
It’s All About the Distance. Or is It?
Sure, power contributes to your ability to hit a home run, but it’s also the mechanics of how you swing that can take the ball farther. Many community and economic development initiatives throw a lot of money (power) at an issue without an understanding of the underlying issues and opportunities. A better approach is to use community input combined with real-time data to better understand the current local mechanics and what forms of investment (money and time) it will take to support change. Continue reading “5 Lessons From the MLB All-Star Game for Economic Opportunity Pursuits”
To many Americans, Canada is our friendly neighbor to the north, known for an affable attitude, a passion for pucks and a penchant for strong beer. What is perhaps less known is how critical trade with Canada is to the economy of the United States. Consider:
- Nearly 9 million U.S. jobs depend on trade and investment with Canada
- Canada is the top export destination for 35 states
- Canada is the number one supplier of crude oil, refined petroleum products, natural gas,
and electricity to the U.S. as well as a
leading supplier of uranium
- 400,000 people cross the Canada–U.S. border daily
Fourth Economy Consulting has turned five and has topped over 200 client engagements in that short period. And by engagements, I mean that we have had the great fortune to partner with community leaders all over the country as they work to strengthen their organizations and communities. This experience has provided me with yes you guessed it, five notable trends that I wanted to share with you. Continue reading “Which Trend is Your Community Experiencing?”
You must know that I (and all of us at Fourth Economy) love local craft beer. It is among the first things we seek out when visiting both new and familiar communities across the country. Beyond the beer, we also love the places in which they are brewed – the small-towns and big-cities. Those revamped car dealership buildings – home to some favorites such as Fargo Brewing, ND and Kalispell Brewing, MT. That former “mom-pop” auto repair place at the end of dead-end dirt lane – visit Helltown Brewing in Mt. Pleasant, PA. The funky food trucks, local farm to table options and impromptu bluegrass open mic nights that round out the ever-changing scene and texture that is the craft brew pub experience. We love it all!
One of the regular questions asked of our firm is “what Fourth Economy projects or reports have been implemented?” While we think all of them have added value and are implemented to some degree, one project stands out. In 2009 Fourth Economy teamed with Clear View Strategies and URS Corporation to conduct a study on Transit Oriented Development (TOD).
The client was the Southwestern Planning Commission in Pennsylvania. The product entitled Future Investment in TOD (or FIT) was a first of its kind report that not only documented the success factors for a TOD but also provided a predictive model for planners and economic developers to determine where and how a TOD development would have the greatest economic impact and success. Continue reading “A Fourth Economy Work Product with Legs”
Fourth Economy has been providing management and development services to the University Economic Development Association (UEDA) for more than a year now. Last month more than thirty UEDA members and Board convened in Washington D.C. to discuss the Association’s operational plan and provide updates on each of the committees’ action items. “A special thanks to all of those who were able to attend the UEDA Spring meeting,” said UEDA President Chuck Shoopman. “We learned from our presenters and each other while making good progress with face-to-face committee meetings. The energy in the room was positive and productive,” Shoopman added.
Continue reading “Connecting Town and Gown through the University Economic Development Association (UEDA)”
As part of a growing organizational development practice area, Fourth Economy is continuing to help build and advance the Water Economy Network’s (Network) 2013 agenda and action plan. Several major initiatives were announced in the first quarter of this year designed to expand Greater Pittsburgh’s water sector market opportunities. “Since our inaugural board meeting in November 2012 we have moved very quickly to analyze the market opportunities, define clear objectives for our organization, create a governance structure and move forward on several fronts,” said Network Chair Sam Johnson, director of water asset management for CONSOL Energy.“
“Our aggressive first-year plan includes spearheading a water innovation challenge program, coordinating work plans with several national water innovation collaboratives, co-hosting a major international water innovation conference in Pittsburgh and continuing to identify water sector challenges and the market opportunities they represent,” Johnson added.
Continue reading “Fourth Economy Works to Advance Water Economy Network 2013 Action Plan”
Gernot Wagner‘s new book, But will the Planet Notice? How Smart Economics Can Save the World. In this book, he argues that we are past the turning point where individual choices (reusable grocery bags or hybrid cars) will be enough the save the planet. We need to change the rules of the game to harness the choices of billions of people by changing the economic incentives.
Hello friends and colleagues,
We’ve been so busy that we skipped a month on our e-newsletter, I am sure you filled your time with other pursuits – I’ve seen many of you playing Words with Friends.
We wanted to take a bit of space in this newsletter to provide an update on Fourth Economy Consulting. We are on a steady growth pace since our launch in September 2010 and interest in working with us continues to reinforce that we have struck a chord. We are honored and at times humbled by the reception but please keep it going.