Human capital has historically been the bedrock on which urban success rests, says Harvard professor Edward Glaeser, adding that quality of government is also important for mitigating the downsides of density. He sees no future in urban poverty and thinks developing countries will only become more fair, richer, and better governed through urbanization.
Glaeser also offers his thoughts on the specific case of China’s rapidly developing urban housing market. In his view, current housing prices are unsustainable if construction continues at its existing pace.
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