The age of the states is over in the global economy as regional and multilateral agreements are becoming the norm. ASEAN, AIIB, EU, BRIC, and the IBSA-trilateral are becoming more common. The regional consolidation based on the Federal Reserve System would bring great benefits to the U.S. Instead of 50 different systems, a reduction to 12 will help corporations, small businesses, and individuals with their decisions. This will help in developing the mega-region/corridor system (Staple Corridors (Global Cities)) that was posted two articles ago. The ease of business will go up when you have multiple parties that agree to a single agreement.
Now, I’m not saying to get rid of the 50 states but put a layer above them to compete with the coming Indian and Chinese age. I say look at the Chinese province’s system to become more competitive. Each of the provinces has about the same population as about 5 to 6 European countries. The way to make America continue to be a powerhouse in this age is through reforms, innovation, and consolidations. The weight of multiple states and governors behind them makes the business environment in the U.S. very favorable and friendly.
This mega-region/corridor can be a model for the development of the U.S. economy. To see the strengths of each region please look here: http://www.america2050.org/megaregions.html.
Instead of States, you’ll begin to look at America’s regional clusters which are the reason for the U.S.A being so strong. Resources, institutions, and funding could be directed to these areas to diversify, improve, or invest in new tech or business clusters.
The Hamilton Institute calls for the Regional Plan Association to be expanded to each one of these districts. Since there are 12 Fed districts then there should be 12 RPA’s devoted to these districts. Please see here: http://www.rpa.org/
This is the first article in a three-article series on Regional Governance.
Founding Purpose: “We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity.”
The mechanism for achieving this goal is Capitalism and Democracy.