A Thriving Economy for the 21st Century

NJ Unemployment Rates, January, 2013, by county. NJ Dept. of Labor and Workforce Development

NJ Unemployment Rates, January, 2013, by county. NJ Dept. of Labor and Workforce Development

Unemployment is at 9.8% in New Jersey. At the county level, in January, 2013, the unemployment rates were in Middlesex County, 8.5%, in Monmouth, 9.4% in Burlington, 9.5%, and in Ocean, 11.7% (PDF, 1).

In Cambridge, Massachusetts, the unemployment rate is 6.7% (2) and Silicon Valley, the unemployment rate is 7.6% (3), people transform basic research into commercial products! Simply put, they turn ideas into wealth. We’ve done it before – think Bell Labs and Thomas Edison. We can do it again.

The good news is that interest rates are low enough that we can roll up our sleeves, rebuild our infrastructure and build a strong foundation for a thriving economy. This will help all of us: the farmers, teachers, engineers, their families, and everybody else.

The canonical definition of a sustainable economy is one which meets the needs of the present generation without compromising the abilities of future generation to meet their needs. This was developed by the Brundtland Commission, in their report, “Our Common Future” (pdf).

John Ehrenfeld, PhD,  my professor in the Marlboro College MBA in Managing for Sustainability, defines a sustainable economy much more elegantly as one in which people thrive, forever. (See Sustainability by Design, ISBN: 978-0300158434.)

 

Notes

  1. New Jersey Unemployment Rates for January, 2013, Not Seasonally Adjusted, Local Area Unemployment Statistics, NJ Dept. of Labor and Workforce Development, March, 2013, PDF,
  2. The unemployment rate in Massachusetts is 6.7%, according to Google Public Data.
  3. The unemployment rate In Silicon Valley is 7.6%, according to the Bureau of Labor Statistics, here.