Locally orientated economic activity increased from 42 percent in 1940 to 52 percent of total commun

May 9, 2015

Locally orientated economic activity increased from 42 percent in 1940 to 52 percent of total community economic activity in 1980. Over the period from 1969 to 1992, Power notes, "the aggregates of retail and wholesale sales, services, financial and real estate, and state and local governments" have been making up "a larger percentage of total earnings, rising from 52 to 60 percent...." As economist Paul Krugman puts it, "Although we talk a lot these days about globalization, about a world grown small, when you look at the economies of modern cities what you see is a process of localization: a steadily rising share of the work force produces services that are sold only within that same metropolitan area.


Source: Alperovitz, Gar. "You Say You Want a Revolution?" WorldWatch, November/December 2005. pp. 19-22. Available at http://www.worldwatch.org/node/588. (Verified 04/18/14).

  

 

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