Richard Florida recently gave a talk at the Rotman School as part of Toronto's “Big City, Big Ideas” lecture series. It was called: Why Creativity Is the New Economy. You can watch it here via Rotman. It’s about an hour long.
If you’re familiar with the work of Richard Florida, you’ll find much of what he talks about familiar. But there is one point that I think is absolutely worth reiterating again, and again: The new economic unit of our time is the city. It used to be nations but, in today’s world, cities trump nations, provinces and states in terms economic importance.
Florida has long stressed this point in his work and I think he’s absolutely right. The problem, however, is that our governance structures are ill-suited to deal with this shift. There are too many layers of government and our cities do not have nearly enough autonomy.
Toronto is also facing a profound leadership deficit at the municipal level, to say the least (See