Winner-Take-All Cities

Richard Florida (), Charlotta Mellander and Karen King ()
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Richard Florida: University of Toronto’s School of Cities and Rotman School of Management & New York University’s Schack Institute of Real Estate
Karen King: Martin Prosperity Institute at the University of Toronto’s Rotman School of Management

No 471, Working Paper Series in Economics and Institutions of Innovation from Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: Abstract: This chapter examines the phenomenon “winner-take-all cities.” Large segments of the modern economy have been shown to conform to a “winner-take-all” pattern as superstar talent draws a disproportionate share of economic rewards (Rosen 1981; Adler 1985; Frank and Cook, 1996). But cities also conform to a winner-take-all pattern in which a small group of global “superstar cities” (Gyourko et al., 2013) account for a disproportionate share of talent, economic activity, innovation, and wealth (Florida, 2017). We track the distribution of several key factors to identify and describe this pattern of winner-take-all urbanism in global cities, using novel data on venture capital-backed startups and billionaire wealth, which we compare to the distribution of economic activity and population. Following the literature on global cities (Beaverstock et al., 1999; Taylor and Walker, 2001), we also examine the disproportionate share of these activities that are concentrated in so-called “alpha” global cities. We find clear evidence of a winner-take-all urbanism across the global economy and the world’s cities.

Keywords: Winner-take-all cities; Winner-take-all urbanism; Alpha cities; Economic activity; Innovation; Wealth; Billionaires; Super-rich (search for similar items in EconPapers)
JEL-codes: O50 R00 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2018-09-13
New Economics Papers: this item is included in nep-ure
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