The New Regional Economies: The U.S. Common Market and the Global Economy

Traditionally, we take a nationalist view of our economy. Our politics and economics are wedded in the political economy of the nation state and the nationalist economic policies. This “nationalist paradigm” is, however, showing signs of fatigue: The role of the nation state is diminishing as the economy globalizes; our national accounting systems are less effective, technology forces change; trading blocs are emerging; there is less control of exchange rates; regional economies are restructuring; and competitive environments are changing. This book poses that political jurisdictions are not economies but polities, and explores the complex and important economic implications of this thesis. In reality, metropolitan-centered economic regions are the basic economic units and the building blocks of the U.S. economy. The linked, interdependent system of local ...