Beliefs and Worldviews in Economic Development
Beliefs and Worldviews in Economic Development
To Which Club Do We Belong?
Dominant beliefs—those of political and economic entrepreneurs in a position to make policies—over time result in the accretion of an elaborate structure of institutions that determine economic and political performance. This chapter documents the worldviews and beliefs of regional leaders in the San Francisco Bay Area and Greater Los Angeles since 1970. In Los Angeles, leaders never developed a consistent vision of the new economy or the region’s role in it; in San Francisco, this vision emerged early in the 1980s and was reinforced over time and diffused throughout the region’s leadership institutions. Moreover, San Francisco’s leadership institutions are stronger and more interconnected than those of Greater Los Angeles, and its political majorities are more consistent over time, leading to more consistent regional policy agendas.
Keywords: institutions and economics, institutions and economic development, beliefs and institutions, beliefs and development, regional governance, policy agendas
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