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Yeah. Even so, not sure how representative Fairfield County is of CT in general. On the one hand, it's the de facto bedroom for people who work in NYC. On the o
by bobthechef 6y ago
Yeah. Even so, not sure how representative Fairfield County is of CT in general. On the one hand, it's the de facto bedroom for people who work in NYC. On the other, because it's the bedroom, you will see a different spread of economic activity. Go further north and you have manufacturing and pharmaceuticals and engineering as well as insurance. The state probably could do a lot more to promote businesses, but it will need to consider that they're basically sandwiched between Boston and NYC (which they probably have). Also, I read that Covid has actually been good for states like CT because with the exodus from large cities, people have moved or started business in the state. Companies have also canceled their plans to move to places like NYC (GE did move to Boston, but Aetna canceled its plans to move to NYC). I wouldn't be surprised if NJ also benefited similarly (and NJ is also a state sandwiched between two large cities, NYC and Philly).
COVID and the resulting remote work might actually be contributing to a better distribution of wealth in the country in general. It might depress salaries for industries that have concentrated in places like SFV and NYC, and thus create incentives to move out of those areas and create less drastic occupational concentrations in some industries. These changes will create conditions that create secondary benefits.
- pdonis 6y ago> COVID and the resulting remote work might actually be contributing to a better distribution of wealth in the country in general. I think this is an under-appreciated fact. Remote work has the potential to be a huge equalizer, by uncoupling people's jobs from where they live.