How to make poor areas richer

The real thing that I don't see anyone talking about is that not every place can become a tech hub or a tourism stop. It's quite difficult to envision any of these approaches realistically working out on a consistent basis without providing fundamental overhauls to systems on the national level. I also think this video makes a poor job of drawing the line between poor-rich divides that occur because of general shifts in society and technology like the American Rust Belt/England's Industrial Belt and areas that were just historically left behind and underinvested in (eg the American South, England's broader North). Though there is often overlap between these regions and problems, I think the lesson we should learn from mainland Europe (a la the example of Leipzig) isn't just that it's important to invest regionally, but what specifically to invest in (eg infrastructure, health, urban planning, education, sustainability) in cohesive, well-planned breaths that simultaneously address local issues. As others have stated, betting on tech and other boom-industries is just setup for another inevitable Rust Belt made of silicone.

Making every city into a tourist trap, shopping mall or the center of the next boom industry won't fix anything. What needs to happen is regional self a sustainability and breaking up the massive corporate monopolies that drain the blood out of local economies

I would also add that what is important to prioritize is - 1. a sustainable and multi-faceted regional transport network 2. The embracing of city-centres / downtowns 3. Regionalization of culture/architecture to make sure places stay unique 4. Emphasis on public places where people of all backgrounds can gather My parents moved to St. Catharines, Ontario and the Niagara Region is a place that needs more of these elements!

Having grown up in PA as all the factories shut down, I believe that 21st Century Pittsburgh is a perfect example of how a formerly Industrial Giant can transform itself into a Tech Hub. For anyone talented who lives in the region, it can offer them opportunities to build a great career and comfortable life.

It's the political system itself that causes this. First past the post voting (which the US and UK both have), leads to governments who don't truly represent the population, and therefore don't really care about all sections of the population.

Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.

Really great video and I like how it highlights regional cities in the US and UK and Germany.

"Gave up the bright lights of Houston" has to be the funniest sentence ever uttered. The entire city is a giant parking lot.

Really great reporting on this issue that we all see but nobody is reporting on.

A lot of folks have been going on about a January rally and said stocks that would be experiencing significant growth these new year season, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound

I grew up in rural Ohio, and I've lived in places that were more vibrant and wealthy. What's missing in a lot of the poor areas, are ways to engage people to work their way up. Education is a key, but that alone won't fix what's broken. Instead of expecting poor areas to become tech centers, they should look at becoming prosperous blue collar. Trade schools need to come alongside colleges, and offer programs for skills--like carpentry, plumbing, electrician, welding, mechanics, etc. Where infrastructure is failing, a fresh wave of tradesmen could save roads, bridges, and historic architecture. Our crumbling infrastructure has been allowed to fail for too long. Small towns and failing cities can't keep up with this, so it needs to be a priority of our federal government--and not just one bill every other decade. No one wants to live in a place with a bad water, or abandoned buildings, or struggling schools.

Great video - Thanks! As a german living in the old „coal and steel“ Ruhr area it is exciting to watch how cities like Middlesbrough or Pittsburgh face similar issues and how they deal with it. I did not expect a part of the video showing Leipzig and the history of the last 30 years here. Interesting quotations here: „not even Germany‘s economy could sustain the level of investment needed to revive every poor area of the country.“ … „Germany has decided that only large cities can be made economically dynamic.“ I absolutely agree with those views, only one thing to add: Germany has decided not only to focus on large cities , but also on the fact that those cities have to be in the east of Germany… which is a pure political decision to overcome the differences after reunification. So Leipzig is for sure a success story , but we also have our „Middlesbroughs“ and still not a plan or investment to overcome the problems here… just come to the Ruhr area in the west (Duisburg, Gelsenkirchen, Dortmund) where I am afraid of the future and hope that German politics will start to look at the whole country again without dividing between east and west …

I lived in South London for some time, an area that was devastated by poverty and crime. As the inevitable gentrification was underway it had attracted many young professional from other areas and wealthy investors to embrace the boom, many of the already despaired locals enjoyed little to no incentive from this area growth. Many were under-qualified for the decent new jobs on offer there, rent almost doubled and others had to vacate their property as their council estate was due for demolition to make space for new developments, so ironically this economic shift forced locals from their homes to go out and seek other poor, suffering but affordable areas, and the cycle continues. Considering that most social issues derive from economic downturn and deprivation and essentially these gentrification reforms are essential, however it also seems counterintuitive to attract the competent and privileged from outside the area and dismiss the inept citizens who are crippled by the same place they call home.

0:02: 🌍 Regional inequality is a pressing issue in many rich countries, including Britain and America, with rising prices exacerbating the problem. 4:20: 🏛 Addressing regional divides in countries with unhealthy centralization by empowering local mayors and providing more resources. 9:20: 📈 Investment in infrastructure and education is revitalizing declining regions in Germany and Pittsburgh. 13:16: 🏢 Innovative companies and large tech firms can help struggling areas by creating jobs and training local people. 17:02: 💼 Offering cash incentives to attract new inhabitants to cities is a promising but not widely effective solution for revitalizing neglected regions. Recap by Tam

I live in Sunderland, a city in Northern England very close to Middlesbrough. After decades of neglect some effort is now being made to rejuvenate the city. Lots of money is being put into modernised transport links, new sustainable housing and new offices in the city centre. It's very interesting comparing this to Tulsa and Pittsburgh, as it is apparent that we are adopting the same playbook. Hopefully it is successful!

If companies would allow fully remote work a bit more, and the railway system was improved I think it would help a lot for certain areas. I get the idea of hybrid work, and I do like it, but I would rather live in a quiet city particularly with family.

Thank you The Economist for this top tier documentary. Speaking about fair payment and employment. We often forget these free videos nowadays this documentaries need human ressources and hard work. I hope they are paid fairely.

Sadly, this seems like the worst period. Started investing recently when the market prices were a bit high, today I am more than 60% down! Hopefully, the markets will go back up.

Awesome video, Pittsburgh is such an underrated city! One comment, at 13:00 the image shown is actually Philadelphia.

1. Work 2. Save 3. Pass your gains onto your kids 4. Kids work 5. Kids save 6. Kids pass on the combined gains to grandkids 7. Repeat Simple fact is wealth comes from time that most people don’t have. You work so your kids can have it better than you and they will work for the same reason. If you’re not producing anything and/or your kids aren’t inheriting it then they’re starting the loop over at zero each generation.