The Rise of the Creative Class—Revisited by Richard Florida

Author:Richard Florida
Language: eng
Format: epub
Publisher: Basic Books
Published: 2012-05-09T04:00:00+00:00

CHAPTER 12

The 3T’s of Economic Development

The key to understanding the new economic geography of creativity and its positive effects on economic outcomes is what I call the 3T’s of economic development: technology, talent, and tolerance. Each is a necessary but by itself insufficient condition for prosperity; for real innovation and sustained economic growth a place must offer all three. The 3T’s explain why some cities fail to grow, despite their deep reservoirs of technology and world-class universities: they have not been sufficiently tolerant and open to attract and retain top creative talent. The interdependence of the 3T’s also explains why others do not make the grade, even though they are lifestyle meccas: they lack the required technology base. The most successful places put all 3T’s together. Together, these 3T’s comprise my Creativity Index, an updated version of which I present at the end of this chapter. The appendix provides updated data for all 3T’s and the Creativity Index for all US metros.

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