Turns out the United States economy grew substantially more slowly than initially estimated between April and June of this year, a torpid 1.3 percent. Lagging growth is not just a short-term problem. America's economic growth has been sluggish since the onset of the Great Recession and even before, so much so that leading economists and commentators like Paul Krugman and PIMCO’s Mohamed El-Erian suggest that America is facing a "lost decade" of economic growth.
But America's overall economic growth rate is essentially a composite of its many different cities and regions. Last week, TIME's Rana Foroohar noted as much:
I think that post election, the economics and job creation focus is going to move to cities and what’s happening at the local level. ... We’ll move from a simplistic conversation about tax cuts versus spending, and we’ll start admitting that we really have no idea why US GDP growth is as slow as it is, and there’s no one way to explain the 2 percent economy (which is really a 5 percent or 0.5 percent economy depending on where you live). And, we’ll have to start experimenting with lots of different paradigms. That will happen at the city level.
To read the full, original article click on this link: The Uneven Geography of U.S. Economic Growth - Jobs & Economy - The Atlantic Cities
