It's a mantra of the age of globalization that place doesn't matter. Technology has leveled the global playing field--the world is flat. "When the world is flat," says New York Times columnist Thomas Friedman, "you can innovate without having to emigrate."
It's a compelling notion--but it's wrong. Today's global economy is spiky. What's more, the tallest spikes, the cities and regions that drive the world economy, are growing ever higher while the valleys, with little economic activity, recede still further.
Read the entire excerpt at FAST COMPANY.