Everywhere you turn these days, some magazine, newspaper, or think tank is publishing the "Top 10" list of something. In the economic development community, these lists are both a source of bragging rights (if your state or community comes out on top) or an opportunity to try to explain away the results. Our politicians also seize on these rankings to make headlines or make points, often without really finding out what's behind the headlines.

A case is in point is the recent Forbes ranking on Best State for Business. Here in Maine, we came in dead last, again. This isn't a one-time deal, it has happened quite a few years in a row. Predictably, the Governor, who loved to quote Forbes during his campaign three years ago, now says that they don't understand what's happening in Maine.

From my point of view, these rankings are not worth the paper they are printed on, or the electrons that bring them to us over the web. MORE

Cathy

The Book of Jobs (Work, not Steve)

If you haven't already seen it, Joseph Stiglitz wrote a great piece in Vanity Fair back in 2012, that I recently came across again. The author argues that the US is now facing a shift in the economy similar to the one that caused the Great Depression. Then it was the shift from agriculture to industry; now it's a shift from industry to service. His quote: "It's a problem rooting in the kinds of jobs we have, the kind we need, and the kind we're losing, and rooted as well in the kind of workers we want and the kind we don't know what to do with." Read this provocative article HERE.

Boston and Baltimore - Comparing Entrepreneurial Ecosystems

Entrepreneurial ecosystems consist of seven types of actors, according to this report by the Abell Foundation. The seven are: active and potential entrepreneurs, mentors, investors, universities, large companies, support platforms and cheerleaders. The report concluded that Boston's ecosystem is Established, while Baltimore's is Emerging and requires additional investment and organization. Proposed investments including finding more entrepreneurs, expanding early stage investment, creating a Innovation District, regulatory and tax reforms, public transit and a "dramatic, comprehensive investment." Judge the value of this report by reading it HERE. 

Regional Differences in Income Inequality

New Geography's Richard Morrill recently wrote that there has been a well-documented and persistent increase in income inequality in the US. This is the existence of very poor or rich households in the same state or area. Interestingly, the northern part of the country (except New York and Connecticut) has much lower income inequality. This is attributed to less severe racial and ethnic divides, but also the effects of unionization and welfare policies. The more egalitarian states are in Northern New England (ME, VT and NH), as well as Wisconsin, Iowa, Nebraska, Wyoming and Utah, as well as Alaska and Hawaii. See maps HERE.