"A recent study provides one more argument against government officials who tout ‘industry clusters' as the Holy Grail of regional growth and innovation, writes columnist Vivek Wadhwa. Harvard Professor Michael Porter's outdated cluster theory lies at the heart of what is wrong with these common prescriptions."He observed that geographic concentrations of interconnected companies, specialized suppliers, and service providers gave certain industries a productivity and cost advantage. His legions of followers postulated that by bringing these ingredients together into a ‘cluster,' regions could artificially ferment innovation. "
Read the Washington Post article.
