Austin Economic Externalities Clause Samples

Austin Economic Externalities. The agglomeration of technology companies in combination with a lower cost of housing has made Austin an attractive place to relocate for many people and followed in line with the vision set for Austin’s future in the 1950s. Yet, many economists and scholars also feared for the potential impact of externalities as Austin experienced rapid growth of new tech startups during the in the 1990s.109 ▇▇▇ ▇▇▇▇▇▇, professor of Urban Policy at UT Austin, was among those concerned. In an article from the Austin Chronicle in 1995, ▇▇▇▇▇▇ provided insight into the future of ▇▇▇▇▇▇, Because we're growing so rapidly now, it's going to push prices up, land values up, salaries up, everything's going to go up and at some point ▇▇▇▇▇▇ will no longer be a low-cost site… If you want to look 20 years down the road, Silicon Valley is where we'll be. 110 ▇▇▇▇▇▇’▇ warning has proved to be incredibly accurate; while ▇▇▇▇▇▇ is routinely touted as the next Silicon Valley, the city now has some of the highest housing costs in Texas. The area of East Austin, previously an area of high poverty and low-income residents, is now facing rapid gentrification with employees of big tech companies moving in. Additionally, the combination of large offices and technology manufacturing factories has led to higher rates of pollution. With more big tech companies moving into the city, quality of life is consistently decreasing while the divide between the wealthy and the poor is growing every day. ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, and ▇▇▇▇▇▇ pondered the issue of whether the utopia of the Technopolis can truly be achieved, asking, Can such regions approach the utopian vision of Companella’s Civitas ▇▇▇▇▇ (1623)? Or are such cities of technology more likely to be paralyzed by elite Ph.D.s working in prestigious 109 Hartenberge, ▇▇▇▇▇▇▇ and ▇▇▇▇▇, 74. 110 ▇▇▇▇ ▇▇ ▇▇▇▇▇▇, “Let Them Eat Cake,” The Austin Chronicle, May 5, 1995, ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/news/1995-05-05/533404/. 111 Hartenberge, ▇▇▇▇▇▇▇ and ▇▇▇▇▇, 78-81. research institutions and unskilled workers, employed in low value-added, repetitive jobs and services?112 ▇▇▇▇▇▇ can now be defined in part by this description; economic growth is what city planners of the 1950s optimized for, and is exactly what ▇▇▇▇▇▇ achieved. What planners neglected to account for, however, was the detrimental social impact tech could have on the city. ▇▇▇▇▇▇, like many other southern cities, already had a longstanding history of racism and wealth inequality.113 By proac...