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Cities Need a Global Business Model

Ben Hecht, President and CEO of Living Cities, discusses the challenges cities face competing in a globalized economy.
Tuesday, February 12, 2013 14:00 EST | 8
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GaryC
GaryC  
2/18/2013 10:27:05 PM
User Rank Blogger
Re: shared info
Ben, your video was interesting and i think beneficial for both cities that currently have and do not have a large stake in the wealth creation of our global economy. It is a reminder for those cities that wish to remain competitive and hold leadership roles in their core areas/industries, they should think about opportunities for economic expansion. As Nicole pointed out, education is key to creating a workforce able to launch these new opportunities.

Nicole Ferraro
Nicole Ferraro  
2/18/2013 11:03:58 AM
User Rank Staff
Re: shared info
Ben, first of all thank you for your feedback (and, of course, for the videos -- more from you to come this week!). I think a "broader distribution of opportunity" is exactly how we need to think about shared prosperity.

I think achieving a broader distribution of opportunity requires, in part, an overhaul of the higher education system, which remains as a barrier between ambition and prosperity. Obviously, this isn't to say college itself is wrong or unnecessary, but the higher education system, and the associated student loan industry, in the US is broken in that it sets people up to fail in many ways. Is Living Cities involved at all with making college more accessible and affordable to a broader range of individuals?

Ben Hecht
Ben Hecht  
2/16/2013 3:56:17 PM
User Rank Blogger
Re: shared info
Shared prosperity is not a redistribution of wealth but a broader distribution of opportunity that translates into more people with more income. For example, US public education in the 20th C enabled a much more educated workforce leading to the largest middle class in the world.

CitySolver
CitySolver  
2/16/2013 2:41:01 PM
User Rank Blogger
shared info
I agree Nicole, mutual information sharing can lead to mutual growht without the two growth areas necessarily being in cahoots. Its about being open about constructive measures that can make our cities safer, greener, more successful. There is much to learn and teach about smart cities as we know and the more we share the more we can create growth industries through greater ease of development and more capital baacking.

Nicole Ferraro
Nicole Ferraro  
2/13/2013 9:24:00 AM
User Rank Staff
Re: On shared prosperity...
Well, "shared prosperity" can be interpreted in very different ways, right? Some may look at that phrase and jump on it and say it's a socialist mindset. Well, maybe it is in a way. But I don't necessarily think of "shared prosperity" as "shared wealth" or "shared paychecks." Moreover, I think what needs to be discussed is figuring out how various different operators in a city -- urban planners, business people, and government -- can work together toward a future where some people aren't receiving all the benefits while other people are being left out.

piratejulie
piratejulie  
2/12/2013 8:33:35 PM
User Rank Urban Legend
Re: On shared prosperity...
the notion of "shared prosperity" sparks questions for me.  such as : How does everyone get 'paid?'

Mary Jander
Mary Jander  
2/12/2013 5:14:56 PM
User Rank Staff
A broader perspective
Thank you Ben, for reminding us of the importance of interconnected economies -- and of the need for cities to plan accordingly. Cities aren't isolated in a vacuum -- they are right in the center of our economic challenges.

Nicole Ferraro
Nicole Ferraro  
2/12/2013 2:58:33 PM
User Rank Staff
On shared prosperity...
It's great to see organizations like Living Cities working toward shared prosperity for city citizens, especially at a time when it seems like efforts to help all people prosper are under attack by many in the federal government. This video blog reminds me of a post that Jim Wells wrote for us called Successful Cities Need Successful Residents.

The true tragedy of the financial crisis would be if we didn't learn from it. Looking forward to more of your perspectives here, Ben!

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