Oct 12, 2017|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
The financial exchanges live across New England every day and and you can't hear us live from ten till noon. Download the I heart radio app on your phone or tablet and follow follow us when you're able. Just searched for the financial exchange and you could hear individual segments or full shows win you want them. We're joined now by Eduardo Porter from the New York Times. He wrote a compelling article. Regarding big cities verses smaller cities in order to talk to about it he's good enough to join us on air I Eduardo Oreo. Yes I I read that they are personal I've read your article that I read that study that was done by the Brookings Institution guy when his name moral mark moral error yet. That was fascinating you'd share some of the the the intricacies and intimate details of that study related to. Big cities as oppose like to think about and in New Haven, Connecticut perhaps or Hartford Connecticut compared to New York City. You know well. On the findings. Moral searcher are pretty are pretty compelling. And he was looking at now. He's emerged from the Great Recession yeah. And by comparing smaller cities and these eighties about who. 20220000. People population. We've bigotry and expedient we're talking you know populations. And so it is. And that they emerge much more quick break. My behavior and poignant quote was twice. And here we eat crow what did he present there and even though everybody experienced. A drop in the labor or hear people who were working that the decline was much much smaller and exceed. Oh. And so I opted is that that. Well what's going on and right different Dick Beatty that. Called it. The idiot or these haven't read we are much harder and would. Because they're smaller cap they don't have bad paper eight at nickel business it is when we people they don't have as many to Richmond and an ecosystem worker. Highly educated workers. And you know you lose your job in the multi merlot copper. On the to find a new one at a decent way than big city where the speaker will. Well let's look at the northeast right here in New York where in Boston. Those two cities are thriving ready at the economies and ball real estate values are up unemployment is down wages are everything's going the right way. But then a what you think about Worcester. Springfield it. Hartford New Haven, Connecticut I mean those four cities continue. To struggle. Is is there any hope for those four cities. Well you know. I need to get it that you can't you can't write write anything. I mean it seemed need that either. Smaller. Shop better. Aren't those that are going to be able to latched themselves in orbit. Bigger cities you know the kind of like get close to bigger metropolitan areas and then sort of like take advantage of what these guys are but it sure our way or you're not connected by a group. You're really really in trouble because then you'll you'll ever out. You know it's becoming much more difficult because the court larger metropolitan areas being. They have a real big gravitational pull. So elect small people coming out of college and got it all over the country will go and go to the marketplace and the wait is your job airport site. The money that the capitol with all the gonna go searching for opportunities going back. You know the new business particularly. So. You know you're you're really are facing an uphill battle you are not being to be big that. Looking at this one of the things that I find interesting Eduardo is. We live in a time where there's more communication and more connected but he than we've ever had previously so in theory. Location shouldn't matter as much has that technology somehow pushed people into those cities as opposed to allowing them to work from wherever they want. Yeah that's a really interesting paradox because we all these sort of thing that would that I he would still be an. Everybody would Milliken and yeah matter where you live right. But it. They see the information technology and working in a very very different. Big you know it it really and then bury the labor market the skill. You know Silicon Valley goes you know and a Stamford university and then it will all. They're all order they are together. And it makes things like matching jobs. 22 you know job openings due to two people each year it makes sharing ideas easier to make learning you the year all these. Beings make make played much more important than we are with even though you know it true that I eat in the mean you know communicate with them across the world easier. You know the thing that occurs to me Eduardo I've got five kids are normal annual sale graduated college in the last ten years. And and they all took to a man said when they graduated college they didn't look for jobs that were located any place other then. The B and looked in San Francisco Chicago new York and Boston. That was it they they didn't they didn't even take an interview. In in in a small city they they knew it was near seniors in college they wanted to be in big city. Yes you know that and and because also Indian mid eighties go to the big eighties you know all and the ancillary jobs that your your your Marian there and why are going to be eager and eat them you know darker. At this hour and that it certainly it would ultimately even that the original good. And what exactly. It appears the new saying because pearl lot of big Cold War period it was merchants between peace that would like smaller and catching up big. And epic nine actually burning currently different kind of had to be organization. You could put back Corey every corner and you didn't really need like super high yield content created in one place. You know oh well there you Katrina well there how's this cubicle well there is not apt to take. But basically you know he didn't happen go to his. Week ago which cry well but now you know pop into your you do about it protect you know engineer you you do really need to go to that they are those more. Eduardo we have to get out but thank you very much for your time we appreciate it. Thank you very clear Eduardo Porter New York Times unity that I think that we'll talk more about it when return but you look at the quality of life and smaller city. It's considerably better and the cost of living is a lot lower we'll talk about that when their turn to the financial exchange or you know. You've got Barry Armstrong. Financial exchange shall look I mean Cilic in new radio network and.