The New Geography of Jobs by Enrico Moretti

In “The New Geography of Jobs,” Professor Enrico Moretti draws on years of research to look at the economic impact of the tech boom and how it has reshaped the modern job market. Moretti paints a picture of a new world emerging as tech companies set up shop in various cities across the globe, and how this movement can be both beneficial and detrimental to affected regions.

The book drills down into individual cities, studying the implications of what happens when technology companies settle down in a particular area. Moretti finds that well-educated cities with talented workforces could be at risk of damaging their local economies in the long run. Without the right economic conditions and oversight, one tech company could come in and out of an area, leaving a community to suffer without jobs or while they wait for new ones to emerge.

The book also looks at the effects on entire cities rather than individual businesses. The implications of a technological transformation are far-reaching—the economy, immigration, wage distribution, and the housing market, all factor into the picture. Moretti shares his ideas on what types of cities will emerge in the future and what opportunities they can offer.

In addition to exploring the impact of the growing tech presence in cities, Moretti also takes a deep dive into the geographical implications of a growing tech sector and how it might affect a city's overall economy. He focuses on the “agglomeration effect”, which refers to the positive economic effects of having groups of industries clustered together. He explains that when these industries are close together, they can benefit from shared knowledge, collaborative opportunities, economies of scale, and other advantages.

Furthermore, Moretti explains that it is not all positive. He looks at the negative consequences, like increasing the costs of living, increased competition for jobs, and rising rents due to the influx of tech employees. At the same time, he offers ideas on how cities can manage these changes responsibly, through approaches like crafting local policies surrounding housing, education, and taxation.

Finally, Moretti looks at other global areas which have seen a tech boom, such as India and China, and discusses the similarities to the stateside experience. Moretti delves into the complexities of each city's current situation and offers his thoughts on what the future might hold, in this global context.

All in all, “The New Geography of Jobs” is a thorough analysis of the global tech boom and how it has changed our world. Through a combination of economic theory, city case studies, and thoughtful recommendations, Enrico Moretti offers a balanced examination of the many effects of the tech revolution. He looks at the places where it has been successful, where it has been damaging, and offers his insights on how to make sure it is beneficial to everyone involved.