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From community to prosperity

Author

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  • Ben Hecht

Abstract

Hecht argues that poverty is systemic, and needs to be solved beyond the geography of individual communities. Quality jobs, which provide economic security and the opportunity to build wealth, and the connection to them, are critical. Living Cities is using a strategy they call Prosperity Development, which involves civic infrastructure, systems innovation, engaging the private market in shared value, use of data (including "big data") and social media, rapid prototyping, and distributed leadership are all part of this strategy. Community development that involves partnership, market focus and innovative solutions is most likely to be successful.

Suggested Citation

  • Ben Hecht, 2012. "From community to prosperity," Monograph, Federal Reserve Bank of San Francisco, number 2012fct.
  • Handle: RePEc:fip:fedfmo:2012fct
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    File URL: http://www.frbsf.org/community-development/files/hecht.pdf
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    Keywords

    Community development;

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