From a macroeconomic perspective globalization should be good for society. However, in a microeconomic world there can be an extreme amount of community pain as the world succeeds – economically speaking – while the local region collapses. Regions that are taking time to better understand why some succeed and others fail have a better chance of being prosperous as opposed to unsuccessful and ineffective in maintaining a standard of living. One way to go about success in the future is to concentrate on clustering.
Anthony Venables writes in his article, “Shifts in Economic Geography and Their Causes” (referred to through the paper at Shifts), that some countries will see rapid growth under globalization while others “will be left behind. ” He explains that location is important, but specifically that there is a new economic geography that can explain variations in labor force productivity that are not attributable to other external factors. Shifts begins with the question of why prosperity and economic activity are not spread evenly throughout the world. Venables follows up this question with a second asking, does …show more content…
In the article Porter draws the conclusion that the data for the United States can likely be a good proxy for the rest of the world and thus the value of regional development is important to all nations. Porter doesn’t begin with a specific research question in Regions, but instead is attempting to examine “facts and relationships” that have been implied in many other modern economic development theories. Ultimately the paper uses the data collected from regional statistics to investigate the qualities and characteristics of clusters and the connection between various business clusters and reginal
Anthony Venables writes in his article, “Shifts in Economic Geography and Their Causes” (referred to through the paper at Shifts), that some countries will see rapid growth under globalization while others “will be left behind. ” He explains that location is important, but specifically that there is a new economic geography that can explain variations in labor force productivity that are not attributable to other external factors. Shifts begins with the question of why prosperity and economic activity are not spread evenly throughout the world. Venables follows up this question with a second asking, does …show more content…
In the article Porter draws the conclusion that the data for the United States can likely be a good proxy for the rest of the world and thus the value of regional development is important to all nations. Porter doesn’t begin with a specific research question in Regions, but instead is attempting to examine “facts and relationships” that have been implied in many other modern economic development theories. Ultimately the paper uses the data collected from regional statistics to investigate the qualities and characteristics of clusters and the connection between various business clusters and reginal