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Jan 30, 2019 21:18:50

The New Geography Of Jobs

by @hiro | 223 words | 23🔥 | 256💌


Current day streak: 23🔥
Total posts: 256💌
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Enrico Moretti: The New Geography Of Jobs

He compared traditional manufacturing and innovative field like tech. While the employment for traditional manufacturing generates 160% of new employment in relevant field, the onf for innovative field does 500% of that due to the exponential factor.

In addition, interestingly even non-high degree worker living in a city eanrs more salary than the one living in the country side. His study said that the wage is impacted by the residencial area, rather than education.

However, correlation is not causality. Although I need to carefully look at the original data and his method to conclude the above statement, moving into the high-growth area would requires education and experience. There are some people who live in a high-growth area without education but those has other assets that give them the access to the city e.g., the home from parents or grandparents.

What accelerates this is that the innovative field needs more innovative people like a magnet. Once it is growing, it becomes more powerful exponentially. But the core is made of a coil so once the electricity is not flowing in the coil, all magnetic power will be gone. 

From my individual standpoint, I need to develop my capability in order to keep the various options open and move to where I want to. 

- Hiro


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