Brierly and Costello used time series regression to test each of these variables in order to determine which made the largest impact on state economic growth, while holding the caveat that states should be careful when considering these variables as they do not have much control over them. Brierly and Costello's results suggested that increasing labor had larger impacts on state economic development than increases in the other two variables. This conclusion is correct only for the short-term, however. In fact, Brierly and Costello's reasoning for their findings that neither increases in labor or technology result in economic growth for states because their investments are typically more "long-term" (Brierly and Costello).
Instead of simply relying on capital, however, Richard C. Feiock argues that non-traditional methods can be beneficial for state economic development, in addition to traditional plans based on competition in his article, "Development Policy Competition and Positive Sum Growth: Incentive Competition and it's Alternatives." Freiock argues against those who suggest that competitive developmental policies are nullified by other policies by insisting that many developmental policies actually work. Instead of making sweeping statements that suggest development programs and competition do not work, Freiock suggests tat whether or not a policy works is based on the types of policies enacted and the economic environment, much like any other theory or policy. In addition to these traditional competition-based models, which can result in positive improvements in economic development in certain cases, the author continues to argue that developments in institutions, human capital, and social capital are worthy substitutions. In arguing for these alternative theories, Freicok suggests that states can boost their economies by carefully designing their affects on institutions and their rules and regulations, increasing human capital through education and training incentives, and cultivating social capital by structuring a community based on trust and civic duty. Thus, Freiock's suggestion differs from the others because of its unique suggestions, but, like Wilson (1999) suggests, the author imposes a specific plan for success.
Analysis and Conclusion
Although each of the articles proposed different ideas and solutions regarding the field of state economic development, they are characterized by a host of similarities. For instance, each seems...
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