7/ Today, the @theRSAorg awarded Professor Chetty the #BenjaminFranklinMedal for the work that led to these astonishing insights. The ceremony also brought together hundreds of practitioners to mark the beginning of an RSA programme of global action.
4/ However, the degree to which children from lower income backgrounds are friends with children from higher income backgrounds varies significantly across the US (blue high economic connectedness, red low).
3/ There is very strong evidence that for children of lower income families in the US, friendships with children in higher income groups (what Chetty calls Economic Connectedness) is by far the biggest social factor driving upward income mobility.
Create a Ministry for Economy as a counterweight to HM Treasury, fiscal devolution, and a new UK Development Bank offering a deep pool of capital to be deployed across the country. @theRSAorg CEO Andy Haldane’s prescriptions for tackling deep rooted inequality. #EndingStagnation
At launch of Economy 2030 Inquiry report @tomriordan cites @theRSAorg & @corecities Urban Futures Commission finding that a strategy for #EndingStagnation in the UK must have unleashing UK cities’ potential at its core.
As a result, we invest less in our cities compared to more productive French and German cities. And a much higher proportion of our investment in cities is in real-estate. In short, the current system encourages too many sub-optimal investment choices.
So what is holding our cities back? We find that there are three recurring barriers over time.
Sound familiar? 🤔
It also goes without saying that the world knows how special our @corecities are. The chart shows international ‘brand recognition’ compared to other cities in OECD countries. All of the UK’s Core Cities are ranked in the top 100, with Manchester and Liverpool making the top 10.
A plan needs to start somewhere. Viewed through the lens of the nested systems, our @corecities (and UK cities in general) are the standout contender. They are hubs of innovation, house diversity and creativity, while dense housing and public transport hold the key to net zero.
