Does MN’s economy have mediocre performance?
When it comes to a strong educated workforce, work ethic, labor force participation and families, Minnesota is definitely above average. Minnesotans live conservatively by living responsibly. This was the beginning of Peter Nelson’s message to the group on Sat Nov. 12. All these factors translate into a strong economy but the outlook for MN’s economy is not as promising as we think. Minnesota is not keeping up with other states like Washington, Colorado and Texas. While the state has higher personal incomes and household incomes, this is a reflection of two wage earner families that are prevalent in the state. This doesn’t automatically translate into a strong economy; for instance, data-point’s show that we will only have AVERAGE growth over the next 5-10 years. An example is that small and new business formation is declining in Minnesota to a level lower than the rest of the country. In addition, productivity, which creates higher wages, has fallen behind. Minnesota is below the top 15 cities in productivity. Compared to neighboring states Minnesota is not doing as well as Iowa for example. Comparing border counties shows that there are fewer jobs in MN vs the other side of our borders.
This is just a taste of the detailed information given to us by Peter Nelson of the Center of the American Experiment from the report put together by Joseph V. Kennedy, Ph. D. See the link below to find out more.
Minnesota’s Economy: Mediocre Performance Threatens the State’s Future
You’re invited – Sat. Nov. 12, 2016 from 9 – 11:00 am
Lake Elmo Inn, RSVP by Thurs Nov. 10, 2016
Speaker: Peter Nelson, Center for the American Experiment on “Minnesota’s Economy: Mediocre Performance Threatens the State’s Future”
Summary: Our speaker will present the findings from American Experiment’s recent report “Minnesota’s Economy: Mediocre Performance Threatens the State’s Future” by PhD economist Joseph Kennedy, which provides an in-depth examination on Minnesota’s economy.
To reserve contact: Brian at: 612-462-2163 or email him at: [email protected]
Cost: $20. non-member; $16. members and $10. Students.
Join for the year: $25 and it will pay off in 5 meetings.
It will be the breakfast buffet!
Each attendee will be eligible for the drawing for a door prize!
PLEASE NOTE: In the fall we will be enforcing our “no show” policy – attendees will be charged for the meal at the 2nd no-show.
Proven results with targeted early learning scholarships
Thanks so much to Arthur Rolnick, Sr. Felllow and Co-Dir of the Human Capital Research Collaborative at the Humphrey School of Public Affairs, for giving us the background and details on the success of early learning scholarships for low-income, at-risk preschoolers. The research of the Perry preschool longitudinal study found that at-risk kids who received targeted help had increased IQ’s. After 30 years it showed the children needed less special ed, were not held back in grades and, as adults, were able to earn a living, pay taxes and not engage in crime. Other effects is that the parents were motivated to go back to school and take a much greater interest in their schools. The St. Paul project of the Minnesota Early Learning Foundation replicated the results and proved there was an economic return on investment.
Rep Kelly Fenton also explained the constitutional amendment that is on the ballot to “Remove lawmaker power to set their own pay“. She noted that if passed the amendment will not mean IF there is a pay increase for the Legislature, but HOW MUCH. It would take away accountability to the voters when Legislators vote to increase their pay. When the DFL controlled both House, Senate and Executive branches they voted a pay increase and got a lot of grief from their constituents so they cooked up this amendment! On it’s face it sounds sensible but it isn’t. It is recommended to vote NO.