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The Rise and Fall of Urban EconomiesLessons from San Francisco and Los Angeles$
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Michael Storper, Thomas Kemeny, Naji Makarem, and Taner Osman

Print publication date: 2015

Print ISBN-13: 9780804789400

Published to Stanford Scholarship Online: May 2016

DOI: 10.11126/stanford/9780804789400.001.0001

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Beliefs and Worldviews in Economic Development

Beliefs and Worldviews in Economic Development

To Which Club Do We Belong?

(p.138) 7 Beliefs and Worldviews in Economic Development
The Rise and Fall of Urban Economies

Michael Storper

Thomas Kemeny

Naji Philip Makarem

Taner Osman

Stanford University Press

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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