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:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)