Thriving Cities: How Proximity Boosts Productivity, Innovation, and Opportunity
The article explores why businesses benefit from being close to each other in cities, known as agglomeration economies. These benefits include sharing workers, resources, and knowledge. The closer a business is to others, the more it can benefit. Studies show that factors like labor market pooling, sharing resources, and knowledge exchange all play a role in these benefits. Other factors like natural advantages and local markets also contribute to the advantages of being in a city.