● Fate of the States: The New Geography of American Prosperity
By Meredith Whitney
Review via ChiefExecutive.net
In the course of U.S. economic cycles, geography played a key role in the rise and fall of regional economies. This is no longer true. In today’s economy where all most businesses need is access to high-speed data networks, proximity to airports, an interstate and a college-educated labor pool, there’s no physical reason why Boeing cannot build airplanes in South Carolina instead of Washington State. Financial analyst Meredith Whitney, who made a name for herself for spotting the subprime mortgage crisis a year before it happened, forecasts a major economic shift in her recent book, Fate of the States: The New Geography of American Prosperity. “Voters and communities are starting to realize just how closely tied their personal economic well-being is to their communities’ fiscal well-being,” she writes. “Voters in mismanaged states, the ones now flushing away jobs, are rising up and putting their feet down. Unemployed workers are packing up their families and relocating to low-tax, non-budget-crunched states like Texas and North Dakota in order to find work.”
