Relative Strengths And Weaknesses Of The Regional Economies For Miami

Moretti states that the economic map follows the three America theory that divides the United States into three different classes. He uses this theory to explain why these disparities occur between regions and their divisional factors. On the one hand, high wages for a skilled and unskilled labor force, on other low levels and declining markets and between the two, undecided cities. In other words, innovative cities, traditional manufacturing regions and in between the towns that can go anyways. What we can observe is that places where highly specialized innovation is predominant, for example where the engineers and designers are, clusters generate for each job created an additional five jobs outside the high technology industry. We can attribute this reason to the dense cluster phenomenon which the multiplier effect of high-tech companies when they are located near each other. The result of creating additional local service jobs increase significantly because people with a high average of wages tend to spend part of their salary on wealthy service. Moretti refers this type of employment as the non-traded sector, to exemplify, it is jobs that only be performed by the local workforce. On the opposite direction, the manufacturing industry

Florida has always been a beautiful state aligned with unique natural wonders which has made it a location of wonder within the U.S. Even with Florida’s majestic natural appeal the state in its territorial years struggled with its public image as Indian attacks were common place in the region along with yellow fever and environmental phenomena such as hurricanes. Following in the end of the Seminole and the Civil war Florida began to search for a new identity and sense of prosperity in the face of massive changes to its economy and societal structure. With the advent of new technologies, the borders of Florida for the first time were opened to larger encompassing audience of visitors from all over the country who came to marvel at the natural landscape and relax in the temperate weather. Gary Mormino author of “Land of Sunshine State of Dreams” described in his book the factors and obstacles which challenged and ultimately propelled Florida to experience monumental growth in the 20th century. From the rapid use of automobiles to the creation of the magic Kingdom Florida has numerous factors to acknowledge when recognizing its recent success in America. While Gary Mormino book makes no effort to shy away from the less favorable aspects Florida history including the financial struggles of the early nineties, his book is clearly portraying an optimistic tone which echoes the glories of Florida’s past and future.

People living in Miami are in the face of danger, and for the most part they are not aware of it. Due to high population, Miami is the fourth largest city to become affected by sea level rise. (Ankum et al.) In the next 32-50 years, sea level is expected to rise by as much as two feet. (Ankum et al.) This two-foot rise will have detrimental effects on the urban settings of Miami. The amount of soil erosion that is undergoing at our beaches will greatly increase if a two-foot rise occurs. At a four-foot rise, road connectivity would begin to become affected. At a six-foot rise, Southern Florida would no longer be habitable as it would, for the most part, be underwater. Not much is being invested in mitigation efforts, most of what is being done are short term solutions. Instead of coming up with ideas to prevent and try to slow down the effects of climate change on our environment, we are focusing on ideas such as building up a sea wall, relocating power plants, and redesigning structures.

Cubans have created strong affects on the economy, especially in Miami. Immigrants turned Miami into a town booming with activity and economic strength. (Schaefer, 2006)

Assess the degree to which inequalities within one named region or city result from economic factors: (30 marks)

Although Nationalism had a greater impact on politics and economics during this time period, towards the end different sectionalistic views divided the nation, negatively impacting the United States politically and economically. Even though the American system primarily united the United states and portrayed nationalism, there were some sectional views that arose. The Bank of the United States overall united the nation economically; however, sectional issues arose because it would benefit the north since they had industries while the south resented it because it gave power to the north. The protective tarriffs protect the northern industries and help them grow but since there are no industries in the south, they get the goods they need through

This source is a demonstration of a study completed in three cities: San Diego, El Paso and Miami. It closely scrutinizes the connection

The government structured for the city of Weslaco, Texas is a council-manager style of government (Weslaco Area Chamber of Commerce, 2014). The City Mayor along with the six City Commissioners hold power over the decision making of the city of Weslaco, Texas.

Proper formation of the spatial variables for the choice model considering the scale, extent and characteristics will provide realistic and useful insight about local or regional preferences. Similarly, MAU technique that can incorporate spatial data maintaining its distinct characteristic will ensure reliability of the

While most in today’s hyper-competitive global economy look towards countries including; China, India, Taiwan, Vietnam, and others in search of lower production costs seeking the ever illusive comparative advantage, others have different ideas. Switzerland, a tiny land locked nation in central Europe surrounded by Alps with a relatively small population of 7,630,605 is one such country. It operates with its own comparative advantage in the industries of

Kansas City, Missouri is located at the intersection of the Kansas and Missouri rivers. It is the biggest city in the Kansas City Metropolitan Area; the most crowded city in Missouri, the seventh biggest city in the Midwest, and the 39th most crowded city in America. Additionally, the location of the city makes it an ideal transportation hub and the most geo-focal market in the country, since three interstate highways serve it. Kansas City has a diverse economy including health care, telecommunications, legal services, manufacturing, governmental services, trade, and financial services. The locale gives access to more than a million employments in more than seven hundred occupations. Key employers in the region include the manufacturing sector taking up 10% of the employment opportunities, the services sector at 48% and the wholesale and retail sector at 14%. In the essay, I will analyze the Comprehensive Annual Financial Report (CAFR) of Kansas City Missouri for the fiscal year ended April 30, 2015.

There have been abundant studies examining the role of place-based organizations and institutions, also known as anchors, and how they cultivate economic development and revitalization in their host community. Unfortunately, the research is often one-dimensional in that it is conditioned on observing and measuring the impact of higher education and academic medical institutions (Ed and Meds), on the local and regional economy (Capital Link, Dekker, 2011; Dekker, Paul, and Uslaner, 2001; Green, 2011; IEDC, 2010; Kramer, Jenkins, and Katz, 2007; Lichty, Wayne, McMillan, 1986). Impact studies are economic investigations through the use of IMPLAN, SASS SPSS or other statistical software that assist with creating “social accounts that describe the structure and function of a specific economy (MIG, 2012).” For example, the IMPLAN modeling system combines U.S. Bureau of Economic Analysis’ Input-Output Benchmarks with other data to construct quantitative models of trade flow relationships between businesses and final consumers. The model is a technique built around quantifying the interactions between industries or in this case sector within an economy. Every activity within the desired economy (health services, manufacturing, trade, etc.) is assigned to an economic division with the number of divisions determined by the level of detail desired. Once this has taken place, a transactions table is created to reflect the value of goods and services exchanged between those various

Countries are enabled by free international trade to specialise or to focus in the production of the goods in which they have a comparative advantage. Specialisation countries can take the benefit of efficiencies generated from increased output and economies of trade. The size of the firm’s market are increased by the international trade which results in lower average costs and increasing in productivity, as it ultimately leads to increase in production.

Trade freedom is a highly important factor in determining economic freedom and wealth. No one single country has the resources required to sustain the current standards of living in developed or developing nations. Trade requires specialization according to a country’s comparative advantage. Specialization allows the most efficient and effective use of a country’s scarce resources, whether that be natural resources or labor resources. The Index shows the economic benefits of specialization and trade.

A country is said to be more productive than another country, if it can produce more output (goods) for a given quantity of input, such as labour or energy inputs. An example is that there are only two countries, Australia and Japan. They both produce computers and wine, and only one factor of production, labour. Japan produces 6 computers for every 1 bottle of wine, where as Australia produces only 4 computers for every 3 bottles of wine. This suggests that Australia should export some of its wine to Japan, and Japan should export some of its computers to Australia. Australia has an absolute advantage over Japan, when producing wine, and Japan has an absolute advantage over Australia, when producing computers (Gandolfo, 1998).