Urbanist Richard Florida charts the progress of the long depression of the late 19th century and the great depression of 1930s from pain austerity through to opportunity and eventual recovery.
Richard Florida looks at the big patterns that emerged from calamitous economic downturns in the past — the deep and prolonged depressions of the 1870s and 1930s — in his book The Great Reset.
Does living out beyond fit into Richard Florida’s thinking on the great reset he claims our society is starting to experience?
To Californians weary of reports of government insolvency, soaring unemployment and foreclosure nightmares, economic development expert Richard Florida has somewhat of a sunny forecast.
Richard Florida’s new book, “The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity.” equates the current moment to the nation’s two earlier major economic meltdowns — the Long Depression that followed the Panic of 1873 and the Great Depression of the 1930s. The reset that followed each of those episodes transformed the American geography in ways that fit perfectly into the new model for prosperity. It’ll happen again this time, says Florida, but it won’t be quick and easy.
It’s not just a matter of bank failures, spiraling foreclosures, high unemployment and the rest of this mess. Many of us sense that we’re on the cusp of a fundamental shift in our economy and culture. Though most may be in denial, the evidence strongly suggests that the American economy has been propelled and sustained by criminally inflated credit and rampant speculation, and we are on the precipice of a change that will result in a dramatically altered American landscape.
In his latest book, The Great Reset, Florida recounts causes of the Long Depression of 1870s and the Great Depression of 1930s, and analyses the ensuing social and economical effects – the rise of innovation, changes in infrastructure, geographical resettlement and alteration of ways of living and working. Florida calls these adjustments resets and thinks the next Great Reset will take place soon or even now, if not already.