Abstract
Do regional variations in economic performance affect the performance of the national economy as a whole? Is it possible to use public policy to increase output and employment in one region without decreasing them elsewhere? The conventional answer to both questions has been no. But recently, a "bottoms-up" view of the national economy seems to be emerging that would suggest a yes answer to these questions. The author attributes this "turnaround " to major changes in the "content" of the U.S. economy and its deeper involvement in the global economy. He then explores the implications for the Economic Development Administration in these new circumstances.
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