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Presentation by Brooking Institution’s Jennifer Bradley
Summary by Jed Smith, Managing Director, Quantitative Research
The REALTOR® University Brown Bag monthly lecture series features presentations by leading economists, analysts, and social scientists on evolving national and regional issues of interest to REALTORS®. Jennifer Bradley focused on a new approach to revitalizing urban areas and creating more jobs though the integration of technology and community networking:
http://youtu.be/OpLAXkZrS_w?list=PLJ8nxcZniP62hQOx_5FIML-bU3qIcfrpQ
Ms. Bradley noted that the top 100 U.S. urban areas account for approximately 75 percent of U.S. GDP, 1/8 of land, and 2/3 of the people. She views urban areas as the place where innovation and resources can create jobs. Bradley noted that until recently, the approach to job growth has focused on government spending to prime economic activity. Based on her work with the Brookings Metropolitan Project she has propounded a new job creating paradigm based on innovation and networking.
Bradley notes that metropolitan areas are ideally suited for the promotion of innovation. Urban areas typically have a wide variety of assets—research centers, educational centers, diverse populations, creative individuals, and transportation and other resources. In the examples which she cites she focuses on a key approach for success in job creation: activating networks across organizations to provide a basis for experimentation, innovation, and interpersonal contact, resulting in the full utilization of an areas assets. In short, cities can create value by creating opportunities for networking and experimentation. She indicates that the development of a vibrant networked culture will drive the types of growth discussed in the Metropolitan Revolution.
What Does this Mean to REALTORS®? As leaders in the community with numerous contacts REALTORS® may have an opportunity to help with job growth, community revitalization, and the growth of business—which is good for everybody’s business.
In addition to the talk, the videos referenced in Ms. Bradley's talk can be found on-line:
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