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| + | same group of studies show no relationship.There is no hard and fast relationship between regulations and economic growth. A nice recent illustration of this is here, where Menzie Chinn of the University of Wisconsin-Madison updates his annual look at the relationship between state-level growth and the American Legislative Exchange Council (ALEC) Economic Outlook Ranking. Poor get richer, rich stay rich However, there is a relationship between a state’s level of income and its growth rate. Specifically,<a href=" " target="_blank">cheap jordans online< a>, research has shown time and again that states which start out with low levels of income per person grow faster than states that begin with higher levels of income per person. This phenomenon is known as income convergence, and shows up across countries, regions, provinces, prefectures,<a href=" " target="_blank">cheap jordans for sale< a>, and states. (Robert Barro,<a href=" " target="_blank">< a>, a Harvard professor and fellow at the Hoover Institution, is the leading scholar in this area.) A clear implication of income convergence is that high-income states,<a href=" " target="_blank">cheap jordans< a>, like Minnesota, tend to have below-average growth rates. That is, high income states don’t run away from the pack; instead, through movements of people, capital, and ideas, low income states catch up to the high income states by growing faster ― but not forever. For example, Figures 6 and 7 in the Center’s report show that South Dakota grew significantly faster than Minnesota from 2000 to 2015. In 2000, income per person in South Dakota was $ 36,110 (in 2009 dollars) while Minnesota’s was $48,<a href=" " target="_blank">air jordans for cheap< a>,055. By 2015 South<ul> | ||
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