Ben Bernanke talks economic transformation in North Carolina
Federal Reserve chairman Ben Bernanke recently gave this speech at an awards ceremony of the Charlotte, NC chamber of commerce. His remarks provide an interesting overview of the great challenges and transformations experienced by the region’s economy in recent years, including the decline of textile manufacturing and the explosive growth of professional and business services, financial services, health care, leisure and hospitality, high-tech and R&D, and niche manufacturing. He concluded his remarks with a plug for higher education, with a particular nod to the North Carolina Community College System.
Over all, the speech covers in microcosm many of the similar issues facing regional economies across the U.S.
