The Boom Towns and Ghost Towns of the New Economy

The economic landscape is being reshaped around two kinds of hubs—centers of knowledge and ideas, and clusters of energy production. Overwhelmingly, these are the places driving the economic recovery. Outside them, the economy remains troubled and weak.

  • Energy stands alongside knowledge as the second pillar of America’s recovery.
  • America’s leading energy hubs prosper not just because of the stuff they pump out of the ground, but because of their ability to combine resources with technology and knowledge.
  • America’s emergent growth model, which is taking shape around its knowledge and energy hubs, may be more powerful than its old one, the pre-crash model depended on the continual building of debt-financed houses.
  • The main threats to America’s growth model come from nowhere else but deepening class and geographic divides.