What lies ahead for the design of policies intended to promote economic development, particularly among low-income countries? The traditional goal of encouraging the development of appropriate public fundamentals, to include modern infrastructure, enlightened institutions, and human capital formation are as essential as ever. However, they cannot, of themselves, be counted on to gain the needed foreign direct investment in physical capital that is critical for industrialization to take place.
Change will only come when we decide to take the first step. As social innovators, we must be bold enough to believe in the future we hope to create yet be humble enough to understand that most change happens slowly and, as such, we must remain steadfast. Complex social issues defy simple, straightforward solutions; they demand a deep understanding, our best ideas, a willingness to collaborate, and a long-term commitment. The Bali Immersion experience added an entirely unique and comprehensive layer to my undergraduate education, and I cannot imagine my time at Florida State without it.
But many of the things cities typically do to compete aren’t very effective. While efforts to generate urban development in America's cities take a variety of forms, many focus on building or renovating things. City officials try to outdo one another by creating the fanciest stadium, downtown park, or convention center with the hope that such investments will spark an urban renewal. However, there is little evidence that these types of projects can turn cities around on their own.
But Tampa’s real advantages are at the state level. Amazon has stated that it prefers a stable and business-friendly environment, and Florida performs well on measures of state economic freedom, state business tax climate, and state fiscal health.