challenges and opportunities for local communities in a global economy n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Challenges and Opportunities for Local Communities in a Global Economy PowerPoint Presentation
Download Presentation
Challenges and Opportunities for Local Communities in a Global Economy

Loading in 2 Seconds...

play fullscreen
1 / 45

Challenges and Opportunities for Local Communities in a Global Economy - PowerPoint PPT Presentation


  • 84 Views
  • Uploaded on

Challenges and Opportunities for Local Communities in a Global Economy.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Challenges and Opportunities for Local Communities in a Global Economy' - landon


Download Now An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
challenges and opportunities for local communities in a global economy
Challenges and Opportunities for Local Communities in a Global Economy

James R. BarthLowder Eminent Scholar in Finance, Auburn UniversitySenior Finance Fellow, Milken Institute Fellow, Wharton Financial Institutions CenterStaying Ahead of the Game: Innovations for Increasing County Revenue

43rd Annual Alabama County Government Institute

Auburn, Alabama

June 6-7, 2013

slide2

The World’s Top 10 Economies

Percent of World GDP

Today

2050

1820

U.S. (21.6%)

China (10.1%)

Japan (8.4%)

Germany (5.1%)

France (4.0%)

Brazil (3.5%)

U.K. (3.5%)

Italy (3.1%)

Russia (2.7%)

India (2.6%)

China (28.7%)

India (16.0%)

France (5.4%)

England (5.2%)

Prussia (4.9%)

Japan (3.1%)

Austria (1.9%)

Spain (1.9%)

U.S. (1.8%)

Russia (1.7%)

China (18.5%)

U.S. (16.5%)

India (12.0%)

Brazil (4.8%)

Indonesia (3.5%)

Japan (3.1%)

Mexico (3.0%)

Russia (2.7%)

Germany (2.4%)

U.K. (2.2%)

slide3

Per Capita GDP: Europe and United States

1820 1870 1913 1950 2011

Europe $1,232 $1,974 $3,473 $4,594 $34,848

United States $1,257 $2,445 $5,301 $9,561 $48,442

slide4

Per Capita GDP by State, 2012

Per capita GDP Rank

Connecticut $58,908 1

Massachusetts $54,687 2

New Jersey $53,628 3

New York $52,095 4

Maryland $51,971 5

Alabama $35,625 46

Note: 2011 per capita GDP is $5,445 for China and $1,509 for India.

slide7
Public Debt in Advanced Economies Approached Another Record HighGross Public Debt As Percent of GDP
government policies need to adapt
Government Policies Need to Adapt

When Social Security was created in 1935, it was the definition of a solvent system – life expectancy at the time was 62 years old and the retirement age was 65. Most Americans died before they could retire!

alabama population top 5 counties vs rest of state
Alabama PopulationTop 5 Counties vs. Rest of State

Total Population: 4,802,740

Note: As of March, 2013

alabama total employment top 5 counties vs r est of state
Alabama Total EmploymentTop 5 Counties vs. Rest of State

Total Employment: 2,010,669

Note: As of March, 2013.

alabama total unemployment top 5 counties vs rest of state
Alabama Total UnemploymentTop 5 Counties vs. Rest of State

Total Unemployment: 148,300

Note: As of March, 2013

alabama local government total revenue 2002 vs 2012
Alabama Local Government Total Revenue 2002 vs. 2012

2002

US$ 13.9 Billion

2012P

US$ 21 Billion

alabama local government spending 2002 vs 2012
Alabama Local Government Spending2002 vs. 2012

2012P

US$ 21.2 Billion

2002

US$ 14.6 Billion

slide24

Extreme LongevityAreas of The World Where People Live Longer

Loma Linda, California, U.S.A.

Sardinia, Italy

Large number of people over 100 years!

  • Physical activity
  • Strong social networks
  • Diet rich in antioxidant fruits and vegetables, healthy grains and proteins

Okinawa, Japan

u s aging p opulation is growing f ast
U.S. Aging Population is Growing Fast

63

63

61

60

48

42

37

33

33

31

28

23

4

3

9

2

6

7

*

*

* Projected.

a widening g ap in cities pension funding top and bottom c ities
A Widening Gap in Cities Pension Funding: Top and Bottom Cities

*

Notes: Study is based on 61 key U.S. cities and fiscal year 2009 data.

*Birmingham, AL is 20th out of 61 at 81% funded ratio.

human capital in united states 2012
Human Capital in United States 2012

Source:DerivedfromKevinMurphyandFederalReserve,FlowofFundsQ12012.

slide37
Going to College Still a Smart MoveAmericans’ Lifetime Earnings by Highest Educational Attainment, 2011

Bachelor’s degree holders can earn 77% more than those with a high school diploma

three ways to build human capital
Three Ways to Build Human Capital
  • Increase education and practical skills
  • Import people with skills
  • Improve health and quality of life so that people are more productive
slide40

Return on Human Capital Investment

“The rate of return to a dollar investment made while a person is young is higher than the rate of return to the same dollar made at a later age.”

Preschool Programs

Return

Nobel Prize Economist James Heckman

School

Opportunity Cost of Funds

Job Training

Age

slide41

“Big gaps in educational attainment are present by age 5. Some children are bathed in an atmosphere that promotes human capital development, and, increasingly, more are not.”

“By 5, it is possible to predict with depressing accuracy, who will complete high school and who won’t.”

James HeckmanNobel Prize in Economics

building a better tomorrow requires structuring o ur f ragmented i nformation t oday
Building a Better TomorrowRequires Structuring Our Fragmented Information Today

We need to strengthen the sector’s information infrastructure to enable a system in which information can be shared and used dynamically. Specifically, we need to build on current initiatives regarding data classifications (to create consistent definitions), technical standards (to facilitate data exchange), reporting protocols (to specify what data is reported when), knowledge platforms (to allow data to be productively captured), and governance (to ensure intellectual property rights and privacy concerns are managed, to build consensus, and to drive compliance).

STATE, COUNTIES & CITIES

STATE, COUNTIES & CITIES

this will h elp i nformation f low f reely
This Will Help Information Flow Freely

Structuring and organizing data will make information more accessible and useable, increasing the supply and use of information, just as it has in other markets.