Stanford business school recently announced a new fellowship program – the Stanford USA MBA Fellowship – that will cover the full cost of tuition and fees – about $160k each – for 3 graduates who would then go work for 2 years in the Midwest. An admission officer said the program hopes to find “people who are interested in bringing everything that they learned back to their region to develop it.” Stanford’s hope is to expand the program to 8 students next year and include the Southeast.
First, it’s a major acknowledgement that some parts of the U.S. are doing a lot better than others. According to the Economic Innovation Group, only 20 counties generated half of the economy’s 166,500 new businesses between 2010 and 2014, including places like Austin, San Francisco and New York. Regions are increasingly diverging in terms of their economic dynamism nationwide. The Midwest and the Southeast are not thriving as much as other parts of the country by many measures.
By: Andrew Yang, Forbes
Read the full article here.