Why larger cities are seeing much higher wages
April 25, 2011 Leave a comment
These metropolitan areas have created “agglomeration” economies that have augmented productivity in dramatic ways, making workers more valuable and therefore able to command higher pay, says Pavan.
For example, he says, populous regions have been able to support advanced technologies and industries that would be impractical or impossible in smaller communities and rural areas and workers have more opportunities to learn advanced skills and are exposed to innovation more rapidly. As financial centers, larger cities also have easier and cheaper access to capital for bankrolling new ventures
- Larger city have a higher wage gap with the critical mass to support key technologies and industries (nextbigfuture.com)
- Larger cities drive growing wage gap between the rich and the poor, study shows (eurekalert.org)
- Larger Cities Drive Growing Wage Gap Between the Rich and the Poor, Study Shows (yubanet.com)