Wednesday, June 27, 2012

Two Facts and a Theory that Might Explain Them

1. Fastest growing state, 2010-2011: District of Columbia (up 2.7 percent).
2. Metro with the highest median household income, 2010: Washington, D.C. ($84,523).

"Historically in nations where city economies are city remains vivacious longest: the capital city. This is because capital cities thrive on transactions of decline...transfer payments, subsidies, grants, military contracts and promotion of international advanced-backward trade...Behind its busyness at ruling, a capital city of a nation or an empire, vivacious to the last, at length reveals itself as being a surprisingly inert, backward and pitiable place."

Facts are from the Census Bureau.
Theory is from Cities and the Wealth of Nations: Principles of Economic Life, Jane Jacobs.

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