Cities And The Wealth Of Nations

In this eye-opening work of economic theory, Jane Jacobs argues that it is cities—not nations—that are the drivers of wealth. Challenging centuries of economic orthodoxy, in Cities and the Wealth of Nations the beloved author contends that healthy cities are constantly evolving to replace imported goods with locally-produced alternatives, spurring a cycle of vibrant economic growth. Intelligently argued and drawing on examples from around the world and across the ages, here Jacobs radically changes the way we view our cities—and our entire economy.

That some cities are vibrant while others are in decline is starkly apparent. In The Wealth and Poverty of Cities, Mario Polèse argues that focusing on city attributes is too narrow. Cities do not control the basic conditions that determine their success or failure as sources of economic growth and well-being. Nations matter because successful metropolitan economies do not spring forth spontaneously. The values, norms, and institutions that shape social relationships are national attributes. The preconditions for the creation of wealth-the rule of law, public education, and sound macroeconomic management among the most fundamental-are the responsibility of the state. By considering national fiscal and monetary policies and state policies governing the organization of cities, this book disentangles two processes: the mechanics of creating wealth and the mechanics of agglomeration or capturing wealth. Polèse explains the two-stage process in which the proper conditions must first be in place for the benefits of agglomeration to fully flower. Polèse interweaves evocative descriptions of various cities, contrasting cities that have been helped or hurt by local and national policies wise or ill-advised. From New York to Vienna, Buenos Aires to Port au Prince, the cities come to life. Throughout the book Polèse highlights four factors that help explain strengths and weaknesses of cities as foci of economic opportunity and social cohesion: institutions, people, centrality, and chance. The result is a nuanced and accessible introduction to the economy of cities and an original perspective on what needs to improve. Cities that have managed to produce livable urban environments for the majority of their citizens mirror the societies that spawned them. Similarly, cities that have failed are almost always signs of more deep-rooted failures. If the nation does not work, neither will its cities.

From the revered author of the classic The Death and Life of Great American Cities comes a new book that will revolutionize the way we think about the economy. Starting from the premise that human beings "exist wholly within nature as part of natural order in every respect," Jane Jacobs has focused her singular eye on the natural world in order to discover the fundamental models for a vibrant economy. The lessons she discloses come from fields as diverse as ecology, evolution, and cell biology. Written in the form of a Platonic dialogue among five fictional characters, The Nature of Economies is as astonishingly accessible and clear as it is irrepressibly brilliant and wise–a groundbreaking yet humane study destined to become another world-altering classic.

As the world becomes more interconnected through travel and electronic communication, many believe that physical places will become less important. But as Mario Polèse argues in The Wealth and Poverty of Regions, geography will matter more than ever before in a world where distance is allegedly dead. This provocative book surveys the globe, from London and Cape Town to New York and Beijing, contending that regions rise—or fall—due to their location, not only within nations but also on the world map. Polèse reveals how concentrations of industries and populations in specific locales often result in minor advantages that accumulate over time, resulting in reduced prices, improved transportation networks, increased diversity, and not least of all, “buzz”—the excitement and vitality that attracts ambitious people. The Wealth and Poverty of Regions maps out how a heady mix of size, infrastructure, proximity, and cost will determine which urban centers become the thriving metropolises of the future, and which become the deserted cities of the past. Engagingly written, the book provides insight to the past, present, and future of regions.

We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don’t worry about who owns those assets, worry about whether they are managed effectively. Why does this matter? Because despite the Thatcher/ Reagan economic revolution, the largest pool of wealth in the world – a global total that is much larger than the world’s total pensions savings, and ten times the total of all the sovereign wealth funds on the planet – is still comprised of commercial assets that are held in public ownership. If professionally managed, they could generate an annual yield of 2.7 trillion dollars, more than current global spending on infrastructure: transport, power, water, and communications. Based on both economic research and hands-on experience from many countries, the authors argue that publicly owned commercial assets need to be taken out of the direct and distorting control of politicians and placed under professional management in a ‘National Wealth Fund’ or its local government equivalent. Such a move would trigger much-needed structural reforms in national economies, thus resurrect strained government finances, bolster ailing economic growth, and improve the fabric of democratic institutions. This radical, reforming book was named one of the "Books of the Year".by both the FT and The Economist.

‘Commerce and manufactures gradually introduced order and good government,’ wrote Adam Smith in his Wealth of Nations, ‘and with them, the liberty and security of individuals.’ However, Philipp Robinson Rössner shows how, when looked at in the face of history, it has usually been the other way around. This book follows the development of capitalism from the Middle Ages through the industrial revolution to the modern day, casting new light on the areas where premodern political economies of growth and development made a difference. It shows how order and governance provided the foundation for prosperity, growth and the wealth of nations. Written for scholars and students of economic history, this is a pioneering new study that debunks the neoliberal origin myth of how capitalism came into the world.