Comment 41986

By Mahesh_P_Butani (registered) - website | Posted June 15, 2010 at 14:43:30

While many cities are struggling to make the shift from a resource-based economy to a knowledge-based economy - which is critical to their very survival, some in Hamilton are attempting to shift the city into reverse gear.

In spite of knowing better that this kind of projected growth will only set the city back in time - their incentive of personal gain is so strong, that they have managed to convince themselves and many others - using progressive sounding language, that their approach will bring job growth and prosperity to our city.

It is amazing to see how disjointed words that appear to profess a knowledge economy - end up instead, justifying a tired path-dependency.

Regions and their economic development policy leaders need to recognize that while preferential or proximate access to certain resources may have been important, even decisive, in their past, economic growth will assure that access to a new and different set of resources—particularly those resources relating to creating knowledge—will be more important in the future. As in business, the challenge for regions will be the willingness to shift their strategies to new forms of advantage, to render their old advantages irrelevant, before their competitors do it for them."

"Wealth creation will depend on our ability to balance four tensions: chaos and order, individual and community, present and future, and competition and cooperation."

~ Lester C. Thurow.

Metropolitan Hamilton

Hamilton Reporter

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