How to make poor areas richer

Many people in the rich world are feeling the pinch, particularly in its poorest regions. As the cost of living rises, how can such “left behind” areas be made richer?

Film supported by @mishcondereya

00:00 - How can rich countries address regional inequality?
01:10 - How did regional inequality emerge?
04:45 - How local politicians can help close economic gaps
06:20 - Why making poorer areas better off is a priority
07:30 - How this German city has changed its fortunes
09:15 - How Germany has championed regional development
11:18 - How Pittsburgh is using education to redefine its economy
15:13 - How Tulsa is becoming a haven for remote-workers
18:00 - Why regional inequality is a concern for all

Why Britain is more geographically unequal than any other rich country:

The British government’s “levelling up” plans are oddly old-fashioned:

Joe Biden attempts the biggest overhaul of America’s economy in decades:

[personmcman]

The real thing that I don't see anyone talking about is that not every place can become a tech hub or a tourism stop. It's quite difficult to envision any of these approaches realistically working out on a consistent basis without providing fundamental overhauls to systems on the national level. I also think this video makes a poor job of drawing the line between poor-rich divides that occur because of general shifts in society and technology like the American Rust Belt/England's Industrial Belt and areas that were just historically left behind and underinvested in (eg the American South, England's broader North). Though there is often overlap between these regions and problems, I think the lesson we should learn from mainland Europe (a la the example of Leipzig) isn't just that it's important to invest regionally, but what specifically to invest in (eg infrastructure, health, urban planning, education, sustainability) in cohesive, well-planned breaths that simultaneously address local issues. As others have stated, betting on tech and other boom-industries is just setup for another inevitable Rust Belt made of silicone.

[nunya]

Making every city into a tourist trap, shopping mall or the center of the next boom industry won't fix anything. What needs to happen is regional self a sustainability and breaking up the massive corporate monopolies that drain the blood out of local economies

[jamesportoraro]

I would also add that what is important to prioritize is -
1. a sustainable and multi-faceted regional transport network
2. The embracing of city-centres / downtowns
3. Regionalization of culture/architecture to make sure places stay unique
4. Emphasis on public places where people of all backgrounds can gather

My parents moved to St. Catharines, Ontario and the Niagara Region is a place that needs more of these elements!

[f.michaelbremer-cruz]

Having grown up in PA as all the factories shut down, I believe that 21st Century Pittsburgh is a perfect example of how a formerly Industrial Giant can transform itself into a Tech Hub. For anyone talented who lives in the region, it can offer them opportunities to build a great career and comfortable life.

[ambition]

0:02: 🌍 Regional inequality is a pressing issue in many rich countries, including Britain and America, with rising prices exacerbating the problem.
4:20: 🏛 Addressing regional divides in countries with unhealthy centralization by empowering local mayors and providing more resources.
9:20: 📈 Investment in infrastructure and education is revitalizing declining regions in Germany and Pittsburgh.
13:16: 🏢 Innovative companies and large tech firms can help struggling areas by creating jobs and training local people.
17:02: 💼 Offering cash incentives to attract new inhabitants to cities is a promising but not widely effective solution for revitalizing neglected regions.
Recap by Tammy AI

[lukebattle]

I live in Sunderland, a city in Northern England very close to Middlesbrough. After decades of neglect some effort is now being made to rejuvenate the city. Lots of money is being put into modernised transport links, new sustainable housing and new offices in the city centre. It's very interesting comparing this to Tulsa and Pittsburgh, as it is apparent that we are adopting the same playbook. Hopefully it is successful!

[GruntWork-lwlo]

I lived in South London for some time, an area that was devastated by poverty and crime. As the inevitable gentrification was underway it had attracted many young professional from other areas and wealthy investors to embrace the boom, many of the already despaired locals enjoyed little to no incentive from this area growth. Many were under-qualified for the decent new jobs on offer there, rent almost doubled and others had to vacate their property as their council estate was due for demolition to make space for new developments, so ironically this economic shift forced locals from their homes to go out and seek other poor, suffering but affordable areas, and the cycle continues. Considering that most social issues derive from economic downturn and deprivation and essentially these gentrification reforms are essential, however it also seems counterintuitive to attract the competent and privileged from outside the area and dismiss the inept citizens who are crippled by the same place they call home.

[vincentohanlon]

It's the political system itself that causes this. First past the post voting (which the US and UK both have), leads to governments who don't truly represent the population, and therefore don't really care about all sections of the population.

[AtillatheFun]

"Gave up the bright lights of Houston" has to be the funniest sentence ever uttered. The entire city is a giant parking lot.

[bobbab]

Really great video and I like how it highlights regional cities in the US and UK and Germany.

[jonb]

The North-East of the UK is sitting on a renewable energy gold mine, which only needs to be opened up. All this talk about the esoterica of "levelling up" is so much hot air. Develop wind farms, generate not only enough energy for the entire UK, but 2 or 3x that much, and export the excess to Germany. All it needs is leadership!

[chrisrudmann]

Awesome video, Pittsburgh is such an underrated city! One comment, at 13:00 the image shown is actually Philadelphia.

[lb]

Great video - Thanks!
As a german living in the old „coal and steel“ Ruhr area it is exciting to watch how cities like Middlesbrough or Pittsburgh face similar issues and how they deal with it.
I did not expect a part of the video showing Leipzig and the history of the last 30 years here.
Interesting quotations here:
„not even Germany‘s economy could sustain the level of investment needed to revive every poor area of the country.“ … „Germany has decided that only large cities can be made economically dynamic.“
I absolutely agree with those views, only one thing to add: Germany has decided not only to focus on large cities, but also on the fact that those cities have to be in the east of Germany… which is a pure political decision to overcome the differences after reunification.
So Leipzig is for sure a success story, but we also have our „Middlesbroughs“ and still not a plan or investment to overcome the problems here… just come to the Ruhr area in the west (Duisburg, Gelsenkirchen, Dortmund) where I am afraid of the future and hope that German politics will start to look at the whole country again without dividing between east and west …

[Karmaofiis]

If companies would allow fully remote work a bit more, and the railway system was improved I think it would help a lot for certain areas. I get the idea of hybrid work, and I do like it, but I would rather live in a quiet city particularly with family.

[Re_RAM]

Brilliant! I’m working on rejuvenating blighted regions in Southern Africa and income inequality is way worse here so I can relate to everything in this video. Will definitely be looking up the initiatives featured here.

[Jamaali]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[Rangetechus]

Really great reporting on this issue that we all see but nobody is reporting on.

[coolben]

"Lifting communities out of poverty requires innovative solutions! Investing in the financial market can create a new paradigm for wealth generation. Micro-investing, financial literacy programs, and community-driven initiatives can empower residents, foster economic growth, and transform underserved areas into thriving hubs of opportunity and prosperity!"

[reelestate]

Let's be honest, the powers that be have 0 care for the 'poor'. No political leader is going to come along and make you wealthy. However, especially in the west, if you are willing to work hard, sacrifice and 'Sharpen yourself' you will have a decent standard of living at the least. I am saying this as a 27 Yr old black man in London. The minute I stopped complaining, blaming politicians ; the growth has been RIDICULOUS. whether it be my bank, brokerage accounts, credit, employability etc... This is just my opinion derived from my experience. Build yourself, nobody is coming along to save you

[princeofheaven]

As a former Pittsburgh resident now in DC I can say that whatever is coming to Pittsburgh is too little and too late. The big tech offices are very small and employ limited number of people compared to the big hubs. The Era of big steel was the golden Era of Pittsburgh.