Brewed Fresh Daily
Anotated links from a Cleveland area obsessive coffee drinker, avid quotation collector, voracious internet content consumer, amatuer social network analyzer, and armchair economic developer. Recently referred to as a "web activist".8/03/2004
Ed Morrison: "Networks matter, big things don't"
The Thing Theory of Economic Development holds that you need a Big Thing to promote economic development. Just about any Big Thing will do: a convention center, a really big convention, a casino, a bunch of casinos, a stadium, a bunch of stadiums (the Olympics).What? Never heard of twackasonic sound? Think of old kung fu movies...
It turns out, though, that these Big Things don't really help economic development much at all.
In Boston, the Democratic Convention produced far less economic impact than projected. Read more. (Free registration required.) In Athens, the numbers for the Olympics don't add up either. Read more.
In a global economy where value is embedded in knowledge, brainpower matters. Innovation and entrepreneurship networks matter (to translate brainpower into wealth). But Big Things don't matter much at all.
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