DC ranked among top 10 "World's Most Powerful Economies" (credit, living in)
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The Atlantic's Richard Florida has developed a list, available at the Atlantic Cities website, of the 25 most economically powerful cities in the world, based on each city's total economic output and criteria such as innovation and the strength of its financial sector.
Tokyo takes the top spot with a stunning $1.2 trillion in annual economic output, followed by New York and London. Interestingly, DC checks in tied for 10th place with Seoul, with an economic output of nearly $300 billion. DC also ranked second on the list in terms of "innovation." 9Clearly, the rankings are based on regions, not cities proper.)
Didn't you read the other threads we had on the DC economy the past few weeks? We all learned from enlightened professional economists that it's going to be similar to Detroit by the end of the decade.
Didn't you read the other threads we had on the DC economy the past few weeks? We all learned from enlightened professional economists that it's going to be similar to Detroit by the end of the decade.
Because enlightened professional economists' like Ben "There is no housing bubble" Bernanke should be taken for gospel.
You'd need to spend a fair amount of time to deconstruct these studies to figure out what they really mean, I think.
So, in DC's case, is the "city" DC proper or the larger region?
It also appears that the 10th place ranking is due to DC's having scored high on an "Innovation Index" that reflects the number of patent/trademark applications filed. Does that mean "DC" as a city gets credit for applications filed with the PTO in Alexandria by people living in Illinois or California?
Is the "Innovation Index" a particularly relevant indicator of economic health? Would an index that tracked the location of those accused of violations of patents and other intellectual property be equally relevant today?
There's a fairly healthy debate as to how seriously Florida's various studies and indices should be taken. Usually people run with the headlines and rarely get a clear sense as to whether it's an exercise in scholarship or marketing.
The Atlantic's Richard Florida has developed a list, available at the Atlantic Cities website, of the 25 most economically powerful cities in the world, based on each city's total economic output and criteria such as innovation and the strength of its financial sector.
Tokyo takes the top spot with a stunning $1.2 trillion in annual economic output, followed by New York and London. Interestingly, DC checks in tied for 10th place with Seoul, with an economic output of nearly $300 billion. DC also ranked second on the list in terms of "innovation." 9Clearly, the rankings are based on regions, not cities proper.)
I saw your comment and that certainly makes sense. It didn't seem to be particularly clear on the link that you provided, which has numerous references to "cities" rather than "regions" or "metropolitan areas."
I saw your comment and that certainly makes sense. It didn't seem to be particularly clear on the link that you provided, which has numerous references to "cities" rather than "regions" or "metropolitan areas."
Yeah, sorry, didn't mean to come off as snarky. I arrived at that link from another website, which mentioned that the figures in the study were based on ana nalysis of regional economic output, rather than cities proper. That's why Tokyo's population is listed at around 35 million and NYC's is at 20.
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