Report: MI lags in knowledge-based economy
Michigan used to be one of the country’s wealthiest states. From 1929 to 2000, the state’s per capita income ranked in the top 20. Now, we’re in 35th place, and a new report from the economic think tank Michigan Future says the state is likely to stay a low-prosperity state without some major changes. The organization advocates a shift from the state’s manufacturing past to a knowledge-based economy.
Current State talks with Lou Glazer, the organization’s president, about why Michigan has seen such a big slide in wealth over the past 15 years.