Why Are People Moving Away From Financial Centers?

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Harrison Roger
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Updated on

In 2014, at least $20 billion in income will shift between U.S. states.

In terms of wealth, the $20 billion income shift equates to about $100 billion in wealth, or about 0.2 percent of total wealth held by individuals and nonprofit corporations in the United States.

Most would think the $100 billion is accounted for by looking at taxes, industry demand, and other economic/industry conditions.

Would you think wealth shifting has anything to do with an area being a financial center?

If so, would you guess individuals are moving their wealth to places with financial centers or away from financial centers?

Here's what the data look...

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Roger is an economic adviser and active angel investor. He owns various economics firms. His work allows him a diverse group of clients across the globe, including the United States, Europe, and Asia. He holds a Ph.D. in business economics.