13 December 2005

Increasing Returns In Action

One of the economic phenomena that your standard college economics course doesn't talk much about is the tendency for growth to cluster around the first examples of that kind of growth, rather than distributing itself evenly. Hence, the United States financial markets are centered in New York where the first stock exchanges were run. Hence, Delaware is still a center for publicly held corporations, due to some decisions it made at a key juncture in American legal history. Hence, Silcon Valley grew up where some of the key first developments were made in the computing field.

It happens with cultural developments too. Denver's art museum was expanded immediatley adjacent to the slightly older museum, and now, "The Mizel Museum, which attracts more than 30,000 visitors each year, currently is housed at 400 S. Kearney St.", is going to relocate to the ground floor of the museum residences which surround the new Civic Center parking garage, immediately adjacent to the newly enlarged Denver Art Museum.

Those that have get. And, yet another attraction in the Golden Triangle, as well as the Museum Residences themselves, is likely to attract more development to the Golden Triangle, which is a mix of high end condominiums, parking lots, hip ground level and low rise offices, non-profit headquarters, and an abandoned school whose owners have been pressured for years to do something with the property but continually done nothing. As more and more people start living downtown and in the Golden Triangle, that property may look attractive as a school site again. Maybe it will be bought back at a profit from the speculators who bought it.

No comments: