Good for the environment and innovation and a concentrated labor pool, top cities like Austin, Portland and Honolulu create positive externalities.
Knowing about how and when creative people achieve optimal productivity is important because of the connection between human capital and economic growth.
This week's stories on everyday economics include baby boomer dependency ratios, disposable income, human capital, the price system, the money supply and the iPhone 6 supply chain.
Human capital formation involves a combination of warmth and competence that results in doing a job effectively and communicating well also.
Whether looking at the supply chain for a pencil or an iPhone 6, we see globalization because price system incentives create cooperation.
Expensive for the U.S. mint and worthless to consumers, the penny still remains a part of the U.S. money supply although phase-out laws have been proposed.