当当地经济产生各种各样的工作和收入时，现代城市就会繁荣起来。但是，经济繁荣和萧条的过山车经常给当地居民带来沉重的损失。在没有任何预警的情况下关闭工厂，整个城市景观中的经济增长负担不均。经济发展领域始于以下假设：国家，市场和第三部门机构可以并且确实会进行干预以传播经济活动的收益，降低其成本并应对其不均衡的分布。
The modern city prospers when the local economy produces a diverse assortment of jobs and revenues. But the roller coaster of economic boom and bust often takes a heavy toll on local residents. Plants shut with little warning and the burdens of economic growth fall unevenly across the urban landscape. The field of economic development starts from the assumption that state, market, and third sector institutions can and do intervene to spread the benefits of economic activity, reduce its costs, and counter its uneven distribution.