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The Rise of the Creative Class--Revisited by Richard Florida

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CHAPTER 12
The 3T’s of Economic Development
The key to understanding the new economic geography of creativity and its positive effects on economic outcomes is what I call the 3T’s of economic development: technology, talent, and tolerance. Each is a necessary but by itself insufficient condition for prosperity; for real innovation and sustained economic growth a place must offer all three. The 3T’s explain why some cities fail to grow, despite their deep reservoirs of technology and world-class universities: they have not been sufficiently tolerant and open to attract and retain top creative talent. The interdependence of the 3T’s also explains why others do not make the grade, even though they are lifestyle meccas: they lack the required ...

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