This document summarizes a presentation given by Louis D. Johnston on how Minnesota can stay above average economically. It discusses how Minnesota experienced catch-up economic growth from the 1950s-2000s by increasing participation rates and resources per worker through education, health, and capital investments. It notes Minnesota is now shifting to endogenous growth, relying more on innovation and improving the quality rather than quantity of inputs. The presentation argues public policy going forward should focus on developing human and physical capital further and spurring technological innovation so that jobs will follow improvements in people.
Louis johnston Minnesota Renewable Energy Roundtable leadership grou 01 10-2011Louis Johnston
This document summarizes an economic presentation given in Minnesota on staying above average economic growth. It discusses how Minnesota experienced catching-up growth from the 1950s-2000s by increasing participation rates and resources through education, health improvements, and adopting existing technologies. It transitioned to endogenous growth driven by innovation in areas like medical devices and retailing from 2010 onward. The presentation argues Minnesota needs to focus on improving quality of human and physical capital now through early education, lifelong learning, prevention and more to continue above average growth.
The document discusses trends that will impact growth in Central Iowa, including rapid population growth comparable to California, uneven growth across cities, and demographic changes. Younger and older populations prefer more walkable, mixed-use communities over traditional suburbs. However, low-density development is financially burdensome for taxpayers. The region needs to plan for more compact, sustainable growth to accommodate future needs in a fiscally responsible way, as shown through the example of Sacramento, CA. Regional cooperation will be important to implement smart growth strategies that make infrastructure and development decisions that benefit the entire area.
Tom Stinson, MN State Economist and Tom Gillaspy, MN State Demographer, delivered a powerful presentation at a Minnesota High Tech Association CEO Briefing last summer.
The document discusses growing income inequality in the United States and proposes several policy solutions. It notes that income is increasingly concentrated among the top 1% of earners, wages have been flat while corporate profits have risen, and the current tax system exacerbates inequality. It argues for tax reforms that incentivize job creation in the US, investing tax revenues from the wealthy and corporations in education, infrastructure and public services to stimulate broad-based economic growth and restore equality of opportunity.
This document discusses income inequality and proposes solutions in 3 areas: taxes, jobs, and politics. It notes the concentration of income and wealth among the top 1% in the US. To address inequality, it recommends increasing taxes on corporations and the wealthy while lowering rates for job-creating investments. It also suggests initiatives to create 17 million jobs through public and private sector spending on infrastructure, education, and research. Additionally, it proposes political reforms to reduce the influence of money in politics.
Should Canada moved to Guarantee Income Model - April 2017paul young cpa, cga
This presentation looks at the impact on implementing a guarantee income model for Canada. Welfare is important program, but it needs to be assess as part of supporting wealth distribution.
As who lives in our rural communities changes, so too are the way these communities support themselves. As tax dollars shrink, the philanthropy community is finding itself being asked to play a bigger role.
Louis johnston Minnesota Renewable Energy Roundtable leadership grou 01 10-2011Louis Johnston
This document summarizes an economic presentation given in Minnesota on staying above average economic growth. It discusses how Minnesota experienced catching-up growth from the 1950s-2000s by increasing participation rates and resources through education, health improvements, and adopting existing technologies. It transitioned to endogenous growth driven by innovation in areas like medical devices and retailing from 2010 onward. The presentation argues Minnesota needs to focus on improving quality of human and physical capital now through early education, lifelong learning, prevention and more to continue above average growth.
The document discusses trends that will impact growth in Central Iowa, including rapid population growth comparable to California, uneven growth across cities, and demographic changes. Younger and older populations prefer more walkable, mixed-use communities over traditional suburbs. However, low-density development is financially burdensome for taxpayers. The region needs to plan for more compact, sustainable growth to accommodate future needs in a fiscally responsible way, as shown through the example of Sacramento, CA. Regional cooperation will be important to implement smart growth strategies that make infrastructure and development decisions that benefit the entire area.
Tom Stinson, MN State Economist and Tom Gillaspy, MN State Demographer, delivered a powerful presentation at a Minnesota High Tech Association CEO Briefing last summer.
The document discusses growing income inequality in the United States and proposes several policy solutions. It notes that income is increasingly concentrated among the top 1% of earners, wages have been flat while corporate profits have risen, and the current tax system exacerbates inequality. It argues for tax reforms that incentivize job creation in the US, investing tax revenues from the wealthy and corporations in education, infrastructure and public services to stimulate broad-based economic growth and restore equality of opportunity.
This document discusses income inequality and proposes solutions in 3 areas: taxes, jobs, and politics. It notes the concentration of income and wealth among the top 1% in the US. To address inequality, it recommends increasing taxes on corporations and the wealthy while lowering rates for job-creating investments. It also suggests initiatives to create 17 million jobs through public and private sector spending on infrastructure, education, and research. Additionally, it proposes political reforms to reduce the influence of money in politics.
Should Canada moved to Guarantee Income Model - April 2017paul young cpa, cga
This presentation looks at the impact on implementing a guarantee income model for Canada. Welfare is important program, but it needs to be assess as part of supporting wealth distribution.
As who lives in our rural communities changes, so too are the way these communities support themselves. As tax dollars shrink, the philanthropy community is finding itself being asked to play a bigger role.
The document discusses the fiscal sustainability of Ontario's health care system. It notes that health care spending has been growing faster than government revenue, creating a long-term sustainability problem. It analyzes key drivers of health spending such as hospitals, physician compensation, and pharmaceutical drugs. Recent reforms aim to tie hospital funding to quality and activity levels, transition physicians away from fee-for-service payments, and reduce drug costs through generic pricing caps. However, sustaining the public health system remains an ongoing challenge.
Immigrants are an important resource for Minnesota's economy. They make up a large portion of the state's workforce and labor force growth, with over 7% of the population and 9% of the workforce being foreign-born. Several industries in Minnesota are highly reliant on immigrant workers, such as manufacturing, education, and food services. Immigrants also start many businesses and contribute over $5 billion annually in consumer spending. As Minnesota's population ages and labor force growth declines, immigration will become increasingly vital to sustaining economic growth.
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The %growth in Ontario's HC spending for 2011 was greater than the %growth in Ontario's revenue. This suggests that without further action, Ontario will not have a fiscally sustainable health care system under McGuinty.
Educational workshop presented by WealthTrust-Arizona and world-renowned guest Robert K. Smoldt, Chief Administrative Officer Emeritus at Mayo Clinic and Associate Director of Healthcare Delivery & Policy Programs at Arizona State University. Mr. Smoldt has been involved in health care administration for more than 30 years and is currently pursuing U.S. health reform in close partnership with Mayo Clinic’s Emeritus President and CEO.
The document discusses the upcoming 2020 Census and the importance of participation. It provides an overview of how the Census works and what is changing for 2020, including a greater emphasis on internet responses. Speakers emphasize getting involved through organizations like MACS to promote full participation. Concerns are raised about underfunding jeopardizing the Census. The implications of proposed changes like question redesign and reduced field staff are also addressed. Ensuring an accurate count is critical for fair representation and allocation of resources.
The document provides an overview of careers in international development policy and how to start a career in the field. It discusses the major donors and institutions that provide foreign aid, including trends in official development assistance over time. While economic development and poverty reduction are goals of foreign aid, the document notes that geopolitical interests also influence how countries allocate their bilateral aid budgets.
The document provides an overview of careers in international development policy and how to start a career in the field. It discusses the major donors and institutions that provide foreign aid, including trends in official development assistance over time. While economic development and poverty reduction are goals of foreign aid, the document notes that geopolitical interests also influence how countries allocate their bilateral aid budgets.
This document discusses research on the relationship between religiosity and economic development. It looks specifically at Protestant and Muslim countries. The document provides background on theories of the "Protestant ethic" and "Islamic economics". It describes the variables, data sources, control variables and results of the statistical analysis. The main finding is a positive correlation between a country's population religiosity and its GDP growth, with Muslim populations experiencing this effect at a higher level. This implies that social cohesion from religious populations, rather than specific religious tenets, may be what leads to economic prosperity.
The document summarizes information from a presentation on Louisiana's state budget challenges. It notes that Louisiana has high rates of poverty and low incomes compared to other states. The state relies heavily on one-time budget fixes and has underfunded education and health care as a result of budget cuts. The budget has a structural deficit because revenues have not kept up with needs, and the tax system is overly reliant on sales taxes and contains many exemptions that reduce revenues. Reform of tax exemptions and a more balanced revenue approach are needed to address the budget problems.
Here are some key resources and assets in the Novi community that could help address the high prevalence of chronic disease like diabetes:
- Novi Community Schools - The school system is well positioned to educate students and families about healthy lifestyle behaviors through nutrition education programs, physical activity requirements, and community outreach.
- Providence Park Hospital - The local hospital can partner with the school and community organizations to deliver diabetes prevention programs, screenings, and management resources. Healthcare providers are trusted sources of health information.
- Community centers/parks - Having accessible, safe places for physical activity like walking trails, sports fields, and recreation programs helps encourage an active lifestyle.
- Grocery stores - Local grocery stores could promote healthy eating
Poverty is defined as subpar living conditions compared to the surrounding area and is subject to change over time. The US defines poverty through an annual ratio issued by the Census Bureau that accounts for inflation but has not been substantially updated since the 1960s. It is calculated using USDA and food expenditure data. Critics argue it does not adequately capture factors like assets and costs of living. There are differences between Democratic and Republican views on how to address poverty, with Democrats favoring more government assistance programs and Republicans preferring less government intervention and believing individuals are responsible for their economic situations. Current policies under the Republican-led House propose deep cuts to programs assisting low-income Americans.
This document provides an overview of economics and the economy. It defines economics as the study of how people make choices under conditions of scarcity and the results of those choices for society. Macroeconomics looks at aggregates like GDP, while microeconomics examines specific industries and markets. An economy is described as a closed system with feedbacks, unlike a company which is an open system. Key components to watch in the private sector include GDP, income, employment, prices, industries, and inequality. Regarding government, fiscal and monetary policy, taxation, spending, and regulations are important. Financial markets like the stock market, bonds, housing, interest rates, and exchange rates also impact the economy. The document then discusses how Minnesota became "
Here are the key health indicators and their definitions:
- Life expectancy: The average number of years a person is expected to live
- Infant mortality rate: The rate at which babies under one year of age die per 1,000 live births in a year
- Access to water supply: Availability of clean drinking water
- Access to sanitation facilities: Availability of proper sewage disposal and toilets
These indicators show the overall health conditions and healthcare development in a country.
The document provides a historical report on opportunity in the United States from 1970 to 2010. It finds that overall conditions for opportunity improved over the four decades measured, but the path was uneven. The decade from 1990 to 2000 saw the greatest progress, while the 1970s and 2000s saw declines in some measures of opportunity. At the state level, nearly every state saw gains in overall opportunity, led by Virginia. Only Nevada and Michigan saw declines. The report examines trends in indicators related to jobs/economy, education, and community over the four decades.
The document discusses economic outlooks and growth projections for various regions and countries in 2015. It predicts that the rise of a global middle class, projected to grow by 70-100 million people per year and increase spending from $3 trillion to $30 trillion by 2030, will be a major driver of economic growth despite ongoing geopolitical volatility. The growth of the middle class is seen as shifting focus from subsistence living towards consumer goods, capital formation, education, and health. The US is expected to benefit from this rise in global consumerism due to its dominant industries, innovation capabilities, and other economic strengths.
The Patriotic Millionaires organization is made up of high-net worth Americans concerned about the concentration of wealth in the US. They advocate for policies that promote equal political representation, a living wage, and a fair tax system. The document discusses studies showing that raising the minimum wage to $15 per hour would have little negative economic impact and would shrink welfare costs. It also notes that a significant majority of Americans now support increasing the minimum wage.
The document discusses Ohio's state budget and its impact on families and communities. It provides an agenda for a meeting on the topic, with speakers scheduled to discuss issues related to long term care, behavioral health, food and housing, Medicaid expansion, and what citizens can do to strengthen communities in the state budget. The speakers will address topics like services for seniors, developmental disabilities, children's issues, employment opportunities, health care jobs and payment reform, and economic indicators related to hunger in Ohio.
Fiscal Austerity & the Federal System (Paul Posner, 2013 ABFM Conf)PublicFinanceTV
"Fiscal Austerity & the Federal System" presentation by Paul Posner, George Mason Unviersity, presented during "Sequestration's Impact on State Budgets" plenary session, 2013 ABFM Annual Conference, October 3, 2013
Human Capital and Growth For Development of Knowledge EconomySaptarshi Ghosh
The document discusses modern economic growth over the last millennium. It notes that world GDP grew 300-fold from 1000-2000, driven by population growth of 22-fold and per capita income growth of 13-fold. Growth rates increased substantially after 1820, with per capita income growing 8-fold and life expectancy rising from 24 to 66 years. While economic models have tried to explain changing growth rates, there is no consensus. The document also examines variability in growth rates over time and between countries, as well as convergence among wealthy nations.
The document discusses the fiscal sustainability of Ontario's health care system. It notes that health care spending has been growing faster than government revenue, creating a long-term sustainability problem. It analyzes key drivers of health spending such as hospitals, physician compensation, and pharmaceutical drugs. Recent reforms aim to tie hospital funding to quality and activity levels, transition physicians away from fee-for-service payments, and reduce drug costs through generic pricing caps. However, sustaining the public health system remains an ongoing challenge.
Immigrants are an important resource for Minnesota's economy. They make up a large portion of the state's workforce and labor force growth, with over 7% of the population and 9% of the workforce being foreign-born. Several industries in Minnesota are highly reliant on immigrant workers, such as manufacturing, education, and food services. Immigrants also start many businesses and contribute over $5 billion annually in consumer spending. As Minnesota's population ages and labor force growth declines, immigration will become increasingly vital to sustaining economic growth.
Week 3 - Fiscal Sustainability of Ontario's Health Care SystemAlexandre Mayer
The %growth in Ontario's HC spending for 2011 was greater than the %growth in Ontario's revenue. This suggests that without further action, Ontario will not have a fiscally sustainable health care system under McGuinty.
Educational workshop presented by WealthTrust-Arizona and world-renowned guest Robert K. Smoldt, Chief Administrative Officer Emeritus at Mayo Clinic and Associate Director of Healthcare Delivery & Policy Programs at Arizona State University. Mr. Smoldt has been involved in health care administration for more than 30 years and is currently pursuing U.S. health reform in close partnership with Mayo Clinic’s Emeritus President and CEO.
The document discusses the upcoming 2020 Census and the importance of participation. It provides an overview of how the Census works and what is changing for 2020, including a greater emphasis on internet responses. Speakers emphasize getting involved through organizations like MACS to promote full participation. Concerns are raised about underfunding jeopardizing the Census. The implications of proposed changes like question redesign and reduced field staff are also addressed. Ensuring an accurate count is critical for fair representation and allocation of resources.
The document provides an overview of careers in international development policy and how to start a career in the field. It discusses the major donors and institutions that provide foreign aid, including trends in official development assistance over time. While economic development and poverty reduction are goals of foreign aid, the document notes that geopolitical interests also influence how countries allocate their bilateral aid budgets.
The document provides an overview of careers in international development policy and how to start a career in the field. It discusses the major donors and institutions that provide foreign aid, including trends in official development assistance over time. While economic development and poverty reduction are goals of foreign aid, the document notes that geopolitical interests also influence how countries allocate their bilateral aid budgets.
This document discusses research on the relationship between religiosity and economic development. It looks specifically at Protestant and Muslim countries. The document provides background on theories of the "Protestant ethic" and "Islamic economics". It describes the variables, data sources, control variables and results of the statistical analysis. The main finding is a positive correlation between a country's population religiosity and its GDP growth, with Muslim populations experiencing this effect at a higher level. This implies that social cohesion from religious populations, rather than specific religious tenets, may be what leads to economic prosperity.
The document summarizes information from a presentation on Louisiana's state budget challenges. It notes that Louisiana has high rates of poverty and low incomes compared to other states. The state relies heavily on one-time budget fixes and has underfunded education and health care as a result of budget cuts. The budget has a structural deficit because revenues have not kept up with needs, and the tax system is overly reliant on sales taxes and contains many exemptions that reduce revenues. Reform of tax exemptions and a more balanced revenue approach are needed to address the budget problems.
Here are some key resources and assets in the Novi community that could help address the high prevalence of chronic disease like diabetes:
- Novi Community Schools - The school system is well positioned to educate students and families about healthy lifestyle behaviors through nutrition education programs, physical activity requirements, and community outreach.
- Providence Park Hospital - The local hospital can partner with the school and community organizations to deliver diabetes prevention programs, screenings, and management resources. Healthcare providers are trusted sources of health information.
- Community centers/parks - Having accessible, safe places for physical activity like walking trails, sports fields, and recreation programs helps encourage an active lifestyle.
- Grocery stores - Local grocery stores could promote healthy eating
Poverty is defined as subpar living conditions compared to the surrounding area and is subject to change over time. The US defines poverty through an annual ratio issued by the Census Bureau that accounts for inflation but has not been substantially updated since the 1960s. It is calculated using USDA and food expenditure data. Critics argue it does not adequately capture factors like assets and costs of living. There are differences between Democratic and Republican views on how to address poverty, with Democrats favoring more government assistance programs and Republicans preferring less government intervention and believing individuals are responsible for their economic situations. Current policies under the Republican-led House propose deep cuts to programs assisting low-income Americans.
This document provides an overview of economics and the economy. It defines economics as the study of how people make choices under conditions of scarcity and the results of those choices for society. Macroeconomics looks at aggregates like GDP, while microeconomics examines specific industries and markets. An economy is described as a closed system with feedbacks, unlike a company which is an open system. Key components to watch in the private sector include GDP, income, employment, prices, industries, and inequality. Regarding government, fiscal and monetary policy, taxation, spending, and regulations are important. Financial markets like the stock market, bonds, housing, interest rates, and exchange rates also impact the economy. The document then discusses how Minnesota became "
Here are the key health indicators and their definitions:
- Life expectancy: The average number of years a person is expected to live
- Infant mortality rate: The rate at which babies under one year of age die per 1,000 live births in a year
- Access to water supply: Availability of clean drinking water
- Access to sanitation facilities: Availability of proper sewage disposal and toilets
These indicators show the overall health conditions and healthcare development in a country.
The document provides a historical report on opportunity in the United States from 1970 to 2010. It finds that overall conditions for opportunity improved over the four decades measured, but the path was uneven. The decade from 1990 to 2000 saw the greatest progress, while the 1970s and 2000s saw declines in some measures of opportunity. At the state level, nearly every state saw gains in overall opportunity, led by Virginia. Only Nevada and Michigan saw declines. The report examines trends in indicators related to jobs/economy, education, and community over the four decades.
The document discusses economic outlooks and growth projections for various regions and countries in 2015. It predicts that the rise of a global middle class, projected to grow by 70-100 million people per year and increase spending from $3 trillion to $30 trillion by 2030, will be a major driver of economic growth despite ongoing geopolitical volatility. The growth of the middle class is seen as shifting focus from subsistence living towards consumer goods, capital formation, education, and health. The US is expected to benefit from this rise in global consumerism due to its dominant industries, innovation capabilities, and other economic strengths.
The Patriotic Millionaires organization is made up of high-net worth Americans concerned about the concentration of wealth in the US. They advocate for policies that promote equal political representation, a living wage, and a fair tax system. The document discusses studies showing that raising the minimum wage to $15 per hour would have little negative economic impact and would shrink welfare costs. It also notes that a significant majority of Americans now support increasing the minimum wage.
The document discusses Ohio's state budget and its impact on families and communities. It provides an agenda for a meeting on the topic, with speakers scheduled to discuss issues related to long term care, behavioral health, food and housing, Medicaid expansion, and what citizens can do to strengthen communities in the state budget. The speakers will address topics like services for seniors, developmental disabilities, children's issues, employment opportunities, health care jobs and payment reform, and economic indicators related to hunger in Ohio.
Fiscal Austerity & the Federal System (Paul Posner, 2013 ABFM Conf)PublicFinanceTV
"Fiscal Austerity & the Federal System" presentation by Paul Posner, George Mason Unviersity, presented during "Sequestration's Impact on State Budgets" plenary session, 2013 ABFM Annual Conference, October 3, 2013
Human Capital and Growth For Development of Knowledge EconomySaptarshi Ghosh
The document discusses modern economic growth over the last millennium. It notes that world GDP grew 300-fold from 1000-2000, driven by population growth of 22-fold and per capita income growth of 13-fold. Growth rates increased substantially after 1820, with per capita income growing 8-fold and life expectancy rising from 24 to 66 years. While economic models have tried to explain changing growth rates, there is no consensus. The document also examines variability in growth rates over time and between countries, as well as convergence among wealthy nations.
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Louis johnston red group talk 06 22-2010
1. How Can Minnesota Stay Above
Average?
Louis D. Johnston
Presentation at the
Regional Economic Development (RED) Group Forum
“Designing the Future:
What's the Next Minnesota Going to Look Like”
June 23, 2010
5. ''Milton's out to save the world
and I'm out to understand it.''
George Stigler
NY Times, October 21, 1982
6. Quick overview:
• Economic growth in Minnesota since
World War II: The data
• Economic theory: The sources of economic
growth
• Economic policy: what role for policy in
promoting and sustaining economic
growth?
9. Income per person: by region, relative to the U.S. average
1.20
1.10
1.00
Relative to U.S. average
Minnesota
0.90
0.80
0.70
0.60
Year
10. Income per person: by region, relative to the U.S. average
1.20
1.10
Minnesota
1.00
Relative to U.S. average
Great
0.90
Lakes
0.80
0.70
0.60
Year
11. Income per person: by region, relative to the U.S. average
1.20
1.10
Minnesota
1.00
Relative to U.S. average
Great
Lakes
0.90 Plains
0.80
0.70
0.60
Year
12.
13. Economic theory:
Output per person
(Per capita income)
output per person =
participation rate · output per worker
14. Economic theory:
Growth of per capita income
Growth of
participation
rate
Growth
of per
capita
Growth of
income
output per
worker
15. Economic theory:
Growth of output per worker
Growth of
Growth of Growth of
resources
total factor output per
per
productivity worker
worker
16. Economic theory:
Growth of per capita income
Growth of
participation
rate
Growth of Growth of
resources per per capita
worker
income
Growth of
total factor
productivity
18. Economic theory:
Catch-up growth
Total factor productivity
is lower than other
areas
Total factor productivity
can be increased by
adopting institutions
and technologies from
leading areas
19. Economic theory:
Catch-up growth
Rapid growth of
participation rate
Rapid growth Growth of
of resources per capita
per worker
income
Adoption and
improvement of
existing institutions
and technologies
20. Minnesota, 1950s through 2000s:
Catch-up growth
• Higher-than-average growth in
participation rate
- Married women with children
- Young people from surrounding
states
21. Minnesota, 1950s through 2000s:
Catch-up growth
• Higher-than-average growth in
resources per worker
Human capital
Physical capital
22. Minnesota, 1950s through 2000s:
Catch-up growth
• Increases in human capital
Education: grew faster than national
average
o High school graduation rates rose
o Rates of post-secondary education
attendance rose
23. Minnesota, 1950s through 2000s:
Catch-up growth
• Increases in human capital
Health
o Public health (vaccination rates,
infant and maternal mortality)
o Medical care (including dentistry)
24. Minnesota, 1950s through 2000s:
Catch-up growth
• Increases in physical capital
Private capital
o Broad and deep local financial
markets and institutions
o High rates of return attract out-of-
state capital investment
25. Minnesota, 1950s through 2000s:
Catch-up growth
• Increases in physical capital
Public capital
o Transportation (roads, river
transport)
o Water and sewer systems
26. Minnesota, 1950s through 2000s:
Catch-up growth
• Adoption and improvement of existing
technologies
Computers
Medical devices
27. Minnesota, 1950s through 2000s:
Catch-up growth
• Government effort to make Minnesota
“big league”
Human rights efforts
Public amenities
28. Economic theory:
Endogenous growth
• Total factor productivity growth is
driving factor
• Endogenous: total factor productivity
comes from intentional application of
resources towards innovation
• Participation and resources per worker
grow relatively slowly
29. Economic theory:
Endogenous growth
Total factor productivity
is higher than almost all
other areas
Total factor productivity
must be increased by
new innovations and
improved input quality
30. Economic theory:
Endogenous growth
Slow of growth of
participation rate
Slow growth of Growth of
resources per per capita
worker
income
New innovations and
improved input quality
31. Minnesota, 2010 onward
• Participation rates have stabilized
• Quantities of human capital and
physical capital are growing more
slowly
• Innovation has picked up
• Medical devices
• Retailing
32. Minnesota, 2010 onward
• Growth depends on increasing total
factor productivity through improved
quality of inputs, not just quantities
33. Minnesota, 2010 onward
• Education
o Early-childhood education
o Improved graduation rates for non-
white students
o Lifelong learning
34. Minnesota, 2010 onward
• Health
o For young: prevention
o For adults: wellness
o For older adults: ability to treat
illness outside of hospitals and
nursing homes
35. Minnesota, 2010 onward
• Public capital and government
o Better transportation, not just more
o Improve productivity of water and
sewer systems
o Government services: competition
and community
36. How Minnesota Became
Above Average
1950s-2000s 2010 onward
(Catch-up growth) (Endogenous growth)
• Growth in quantity of • Growth in quality of
resources resources
• Adoption and • Development of new
improvement of institutions and
existing institutions technologies that
and technologies from expand the
the technological technological
frontier frontier
37. The big questions for public
policy:
Do people follow jobs?
or
Do jobs follow people?
38. How Minnesota Became
Above Average
1950s-2000s 2010 onward
(People follow jobs) (Jobs follow people)
• Public policy focus: • Public policy focus:
– Accumulate and attract – Improve quality of
more human and human and physical
physical capital capital
– Technology transfer – Technological
innovation