Economy
The Pioneer Valley has a broad and varied economic base, featuring more than 16 universities and liberal arts colleges, (many of which are considered among the United States' best, e.g. Amherst College); numerous hospitals and healthcare organizations, (e.g. Baystate Health, Massachusetts' third largest employer) and numerous financial service organizations, (e.g. the Fortune 100 MassMutual.) Manufacturing remains a part of the Pioneer Valley's economy (e.g. Smith & Wesson), although its manufacturing base has dwindled since 1968, when the Springfield Armory was controversially shut-down. The Pioneer Valley is considered to have a "mature economy", which means that its economic base is sufficiently varied so as not to be completely dependent on market fluctuations, like many places in the United States. This was illustrated during the Great Recession, when Springfield, Massachusetts and the Pioneer Valley performed within the Top 10 of all U.S. regional economies. Of all
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)