The Innovation Economy peaked with the last financial crisis. In the emerging epoch—the Talent Economy—the competition among companies like Google and Facebook for the same pool of ideas makers will reshape our cities.
People have been trying, for decades, to convince us that our country is in relative decline from an exceptional peak, that we must be on the road to ruin.
Nearly a century ago, during the Great Migration, less-educated individuals were the ones who left home in search of better lives. The opposite is true today, with the educated more mobile than ever before, leaving some places in a spiral of decline.
Talent retention is not a key driver of economic vitality. If it were, Chicago and New York City would be in a world of trouble. But that doesn't stop many from resorting to the tired brain drain refrain.
For many, population is the only metric that matters. But what does it mean when a city's population is declining while its workforce is growing—in both size and smarts?