Forum 411 briefing: Lessons from legacy of AZ’s 5Cs
ARIZONA STATE UNIVERSITY Media Advisory
September 17, 2009
Policy Briefing Traces Economic Resilience, Lessons in Legacy of Arizona’s 5Cs
The Great Depression took its toll on Arizona as the state’s first real economy, based on cotton, cattle, copper, citrus, and climate – affectionately known as “the 5Cs” – collapsed. But Arizona rebounded, building a new economy in becoming one of the most dynamic and fastest-growing states in the nation. Can Arizona do it again?
The Road to Recovery: Lessons from Arizona First Economy, a new report by Morrison Institute for Public Policy, steps through this lesson in economic history. Looking ahead with an awareness of the legacy of the 5Cs, the report suggests, informed leaders can set Arizona’s course out of recession and into a prosperous next century.
In a brief and thoughtful reflection on Arizona’s economic history, this new eight-page brief offers insight into how the 5Cs captured the essence and identity of Arizona’s workers, and by extension, the state’s economic identity. The report outlines examples of how elements of the nostalgic 5Cs live on today – from how the state uses natural resources as economic assets to how we shape public policy on water, and how Arizona is tied to a boom-and-bust cycle.
The report offers a compelling look at the rise of housing after WWII to the collapse of the real estate market in the 1980s. The report also traces the impacts and role of the private sector in which our economy has been shaped and shifted by business people, educators, elected officials, and economic developers and how they should apply the latest research to familiar questions: What is Arizona good at now? What economies are emerging? How can Arizona be an economic leader? How can Arizona take early technology industry that emerged in 1960s and evolved into today’s biosciences, solar and other green industries to the next level?
More than a history lesson, The Road to Recovery suggests that the ups and downs of efforts in the past 20 years have shown that both vision and day-to-day attention and resources are vital for economic recovery. And it poses the question: What new economic identity – with 5Cs’ resiliency – will represent a broad cross-section of Arizonans in human capital, research and
development, business climate, venture capital, global leadership and sustainability?
Read the full version of The Road to Recovery:
Sponsored by Westcor, Forum 411 is a quarterly briefing series offering policy, business, and community leaders information on Arizona’s critical issues.
Morrison Institute is an independent and non-partisan public policy research organization based at Arizona State University as part of the College of Public Programs.
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MEDIA CONTACT:
Nicole Haas, Nicole.Haas@asu.edu,
602.496.0202
Joseph Garcia, Joseph.C.Garcia@asu.edu,
602-496-0205
