People Measure Economic Health by the Small Things

A recent Washington Post article discusses the outlook of the Washington DC area's economy. The reporter makes an interesting observation--that people measure the economic health of an area by the SMALL things in their lives. Do they have money to buy the kids' new shoes? Can they afford any type of vacation this year? Can they pay the co-pay on their health care insurance, if they're lucky enough to have health insurance.

This is an important perspective for all of us in economic development to bear in mind as we use sophisticated yardsticks to indicate local economic health.

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