Andrew Spewak is a senior research associate at the Federal Reserve Bank of St. Louis.
This recordkeeping system leads to group cooperation, and the concept has been around for millennia.
Requiring substantial R&D and skilled workers, advanced manufacturing has a big impact on U.S. output and exports, while its workers earn a wage premium.
The education and health services sector is the largest employer in the metro area these days. Manufacturing, especially that related to the auto industry, is still strong but not what it once was. Another challenge is the area’s slow population growth.