Professor Michael E. Porter discusses the economic benefits from North America's unconventional oil and gas energy resources. Professor Porter discusses the unconstructive debate around these resources, and what should be done to fully realize their benefits while minimizing environmental and climate impacts.
America's unconventional gas and oil resources are perhaps the single largest opportunity to improve the trajectory of the nation’s economy, at a time when the prospects for the average American are weaker than experienced in generations. The benefits can be achieved while substantially mitigating local environmental impacts and speeding up the transition to a cleaner-energy future that is both practical and affordable.
This paper develops a novel clustering algorithm that systematically generates and assesses sets of cluster definitions (i.e., groups of closely related industries).
This paper evaluates the role of regional cluster composition in the economic performance of industries, clusters and regions.
Industries located in regions with strong clusters (i.e. a large presence of other related industries) experience higher growth in new business formation and start-up employment.
The performance of regional economies varies markedly in terms of wage, wage growth, employment growth, and patenting rate.
The real work of raising productivity and innovative capacity usually occurs not in our nation's capital, but in the cities and regions where firms are based and competition actually takes place.
In the modern competitive marketplace, nations have their own competitive advantages. These are investigated and discussed in-depth.