MIT11_481Js09_sw01

MIT11_481Js09_sw01 - MIT OpenCourseWare http:/ocw.mit.edu...

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MIT OpenCourseWare http://ocw.mit.edu 11.481J / 1.284J / ESD.192J Analyzing and Accounting for Regional Economic Growth Spring 2009 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms .
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REGIONS AND THE NEW ECONOMICS OF COMPETITION Michael Porter. 2001. “Regions and the New Economics of Competition,” In Global City- Regions , edited by Allen J. Scott. New York: Oxford University Press, pp. 139-157.
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New Economics of Competition ± Six Transitions that are increasingly driving prosperity ± From macro to microeconomics ± From current productivity to innovation ± From economywide to clusters ± From internal to external sources of company success ± From separating to integrating economic and social policy ± From national/cross-national to regional and local
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Economic Prosperity in the Modern Economy ± No longer based on natural resources, military power, political influence, or presence of large-scale firms. ± Instead, in the productivity with which an area can utilize its human, capital, and physical resources ± Competitiveness is determined by productivity ± Productivity = (Value + Efficiency) ± Industrial policy thinking is obsolete as all industries offer possibilities to raise productivity, and with it improve prosperity ± Prosperous areas export intellectual capital, not natural resources or physical products
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Clusters ± Geographic concentrations of interconnected companies, specialized suppliers, and service providers; firms in related industries; and associated institutions
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MIT11_481Js09_sw01 - MIT OpenCourseWare http:/ocw.mit.edu...

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