Browsing by Author "Maki, Wilbur R"

Now showing 1 - 3 of 3
  • Thumbnail Image
    Item
    Alternative Approaches to Thinking about Economic Development
    (Bureau of Business and Economic Research, 1996) Lichty, Richard W; Maki, Wilbur R
    Much of past thinking about economic development started with a traditional low-income rural agricultural economy losing its workforce to higher-paying jobs in the new, modern industrial sector. Hirschman and others proposed an alternative strategy for economic development in his unbalanced growth theory that focused on an industry rather than an entire sector or two of a developing nation's economy. Hirschman not only highlighted, but emphasized in significant ways, the role and importance of the private sector in economic development. Putnam and others take the social capital approach to economic development. We offer still another way of thinking about economic development strategy that builds on the activities within a local labor market area and its institutions for constructively engaging an active, public-spirited local citizenry. The local labor market approach contrasts with the earlier ways of thinking about economic development by its attention to local institutions in building a civic workforce. This functional community serves as a building block for defining an economic region composed of several labor market areas, of which one or more form its core area, while the more distant ones form its periphery. This approach provides the conceptual environment for building a model for local economic development.
  • Thumbnail Image
    Item
    Estimating the Direct and Indirect Impacts of Direct Reduction and Steelmaking in Northeastern Minnesota
    (Bureau of Business and Economic Research, 1981) Peterson, Jerrold M; Jesswein, Wayne A; Lichty, Richard W; Maki, Wilbur R; Reid, Kenneth J
  • Thumbnail Image
    Item
    Estimating the Economic Impact of Direct Reduction and Steelmaking for Northeastern Minnesota with Full Capacity Taconite Production
    (Bureau of Business and Economic Research, 1981) Peterson, Jerrold M; Jesswein, Wayne A; Lichty, Richard W; Maki, Wilbur R; Reid, Kenneth J
    An economic impact analysis for Northeastern Minnesota has been carried out using the SIMLAB computer model and is part of a much larger regional study to examine the feasibility of direct reduction and steelmaking in the upper Great Lakes Region. For this analysis, two scenarios have been adopted. The first assumes a declining steel industry and adopts the OTA liquidation scenario data. The second assumes solution of the technical and economic problems necessary to permit development of a direct reduction industry in Northeastern Minnesota. For the OTA liquidation scenario alone, the taconite pellet production increases from 50.1 million tons per year in 1980 to 67.1 million tons per year in 2000, and the estimated Gross Regional Product declines from $3.42 billion in 1980 to $4 .6 billion in 2000. This scenario depends on no new increases in imported ore. The ORI development scenario assumes an output of 3.6 million tons per year of steel billets by 2000 and shows an estimated Gross Regional Product of $6.8 billion in the year 2000, an amount which doubles the impact of the total current taconite industry and ensures a strong regional growth with less dependence on the cyclic performance of the national steel industry. It is clearly of great local interest to actively seek routes that will lead to further processing of the local iron ore resources.