The Next Economy: Economic Recovery and Transformation in the Great Lakes Region: Executive Summary

As the American economy works its way slowly out of the Great Recession, a consensus is developing among public and private-sector stakeholders that simply re-constructing our old economy, one based on highly-leveraged domestic consumption, would be a serious mistake. The nation must instead focus o...

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Bibliographic Details
Published in:Policy File 2010
Main Authors: Vey, Jennifer S, Austin, John C, Bradley, Jennifer
Format: Report
Language:English
Subjects:
Economic policy
The Brookings Institution
Online Access:Request full text
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Summary:As the American economy works its way slowly out of the Great Recession, a consensus is developing among public and private-sector stakeholders that simply re-constructing our old economy, one based on highly-leveraged domestic consumption, would be a serious mistake. The nation must instead focus on building the next economy, one that is oriented towards greater exporting, powered by a low-carbon energy strategy, driven by innovation, and that creates opportunities for all. The Great Lakes region, too long tagged with the misleading nickname, The Rust Belt, could show the rest of the country the way forward to the next economy. Although battered by decades of declining economic health, and particularly by the recession, the nation's heartland still has many of the fundamental resources--top-ranked universities, companies with deep experience in global trade, and emerging centers of clean energy research to name just a few--necessary to create a better, more sustainable, economic model.