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CT's Stunted Economic Growth (Ranked Lowest)

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CT's Stunted Economic Growth (Ranked Lowest)

Post by JadeBlue on Thu Aug 01, 2013 3:35 pm

Thought I would also share this here to make it easy for people to find relevant articles. Mods are welcome to delete or move it.

How Did Rich Connecticut Morph Into One Of America's Worst Performing Economies? -Forbes

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Re: CT's Stunted Economic Growth (Ranked Lowest)

Post by stillnutty on Thu Aug 01, 2013 9:37 pm

Being from CT figured I d post the link

http://www.forbes.com/sites/jimpowell/2013/08/01/how-did-rich-connecticut-morph-into-one-of-americas-worst-performing-economies/

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Re: CT's Stunted Economic Growth (Ranked Lowest)

Post by elvis44102 on Fri Aug 02, 2013 8:57 pm

too many regulations, and unionized pensions are the culprit?

i think its more like the textile industry long crashed, and defence contracts were utilized up through the cold war, and nobody got involved in emerging technologies, instead they held onto the SHOULDbe dead military machine

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Re: CT's Stunted Economic Growth (Ranked Lowest)

Post by JadeBlue on Tue Aug 06, 2013 2:40 am

elvis44102 wrote:too many regulations, and unionized pensions are the culprit?

i think its more like the textile industry long crashed, and defence contracts were utilized up through the cold war, and nobody got involved in emerging technologies, instead they held onto the SHOULDbe dead military machine

Yeah, I don't agree with most of the author's conclusions. And he is incorrect about a lot of things. The taxes, I understand, but most other things are simply reflections of the state's high incomes and average living expenses, not of overpaid union workers. Though, some are.

But I think that is a very good point- where there is old money, there is a lot of old industry, for sure. It is true that CT is unfriendly to business (my husband started his here in 2002), but a lot of the current regulations are from post-9/11 "knee-jerk" policies and have nothing to do with liberal agendas, but with local current events and politics, which are unlikely to change in the near future. In my opinion, it is much easier to do business here than it is in places like New York where you have to deal with county regulations, too, which are absurd. CT is the only state without county governments.

Honestly, if you want to run a business in an area where your goods and services are needed, you're going to do it, regardless. The problem is these huge corporations that are just trying to lower their bottom line and have no real interest in their community or their employees.

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Re: CT's Stunted Economic Growth (Ranked Lowest)

Post by jmainframe on Fri Aug 09, 2013 5:13 am

Wow, that was some case study he wrote. Should be required reading at Yale School Of Management. When he talked about over-regulation, high taxes, old money, and high cost of living, I had to keep reminding myself he was writing about Connecticut and not New Jersey. Believe me, Jersey is not far behind from what's happening in Connecticut.

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Re: CT's Stunted Economic Growth (Ranked Lowest)

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