From the Atlas of Economic Complexity http://www.atlas.cid.harvard.edu
“Cities and countries would be ill-advised to focus on a few ‘clusters’ and consolidate the value chains in their location, as is so often recommended. Instead, they should worry about being a node in many different value chains, which requires finding other industries that can use their existing capabilities if they were somehow expanded and adjusted to new needs.”
Read the whole article in Project Syndicate here
Ricardo Hausmann, a former minister of planning of Venezuela and former Chief Economist of the Inter-American Development Bank, is a professor of economics at Harvard University, where he is also Director of the Center for International Development.
