Indiana is wasting billions on the wrong economic model | Opinion
I've studied what actually drives regional growth for decades. Indiana has doubled down on the one theory that doesn't work.
Michael J. Hicks
Contributing Columnist
Economists have developed three competing explanations or theories to explain differences in economic growth between regions. Over the past several decades, economic development policy in Indiana has coalesced around one of these theories. Sadly, it is the one theory that has shown the least ability to predict growth, or in other words, the wrong model.
The three theories are human capital, quality of life and agglomerations.