How come I am forced to read this headline in the T&T: “Retail drives Metro’s success“.
I can’t believe that this article quotes a UdeM economist suggesting that Moncton’s economic success is due to retail – although I find the piece a bit confusing like the writer wants to extrapolate.
If you are doing a serious economic analysis on the retail sector you might come to a different conclusion. Retail is among the lowest (if not the lowest) economic value sectors of an economy (value added). It is also among the lowest paying.
We need retail. I agree with economic developers attempting to attract niche retailers. But it is silly and dangerous to say that retail drives Moncton’s success. And if this kind of crappy reportage leads to economic development agencies focusing more on retail and less on industries with real economic value, it’s a loss.