Decoder with Nilay Patel Recode Decode: Richard Walker
Mar 20, 2019
Richard Walker, a Professor emeritus at UC Berkeley and author of "Pictures of a Gone City," explores the dark side of prosperity in the San Francisco Bay Area. He discusses how California's economic booms, from the gold rush to the tech boom, often come with significant social costs. Walker highlights the housing crisis as a 'bottleneck effect' and critiques the simplistic 'just build more' solution. He argues for taxing the wealthy to promote equality while examining how tech innovation may shift away from the Bay Area.
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Industrialized Mining
- The California Gold Rush revolutionized mining by industrializing it.
- This included developing new equipment and technologies for digging, grinding, and processing ore.
Recurring Tech Booms
- Tech booms aren't new; they've occurred roughly every decade for a century.
- These booms encompass various technologies, from vacuum tubes and radios to silicon chips and personal computers.
Agglomeration Effects
- Specialized industrial districts benefit from agglomeration effects, where concentrated firms and labor pools create synergistic growth.
- Silicon Valley’s early start and concentration of resources led to a virtuous cycle of growth.