We have talked about Richard Florida here on several occasions but I really think that Florida’s approach is now going well beyond just creativity. Now we read a new Federal Reserve report that cities with “the things that make a city delightful, such as parks, historic sites, museums, and beaches – “disproportionally attracted highly educated individuals and experienced faster housing price appreciation.”
Again, I have the same concern as I did with Florida. Do cities with strong economies generate the tax base that provides excess revenue for city hall to invest in ‘delightful’ things and thereby be more attractive to migrants or did city hall in the midst of a crappy economy invest in ‘delightful’ things and that turned everything around?
We have got to get this causality thing figured out. We need to look more closely at correlation. What would be better for the Miramichi – a new pulp mill and 800 high paying jobs or investment in more ‘delightful’ things like a new museum?