Are big cities overrated?
New economic research suggests so
Judged by their revealed preferences, people love cities. Metropolises such as London and New York are bursting at the seams, with house prices to match. China, meanwhile, can boast at least six cities bigger than either of them. Across the world, 25% of people live in cities of over a million, up from just 15% six decades ago.
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This article appeared in the Finance & economics section of the print edition under the headline “Up in smoke”
Finance & economics January 18th 2025
- Why global bond markets are convulsing
- Will Donald Trump unleash Wall Street?
- Iran is vulnerable to a Trumpian all-out economic assault
- Ethiopia gets a stockmarket. Now it just needs some firms to list
- Are big cities overrated?
- Why catastrophe bonds are failing to cover disaster damage
- “The Traitors”, a reality TV show, offers a useful economics lesson
From the January 18th 2025 edition
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China meets its official growth target. Not everyone is convinced
For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s
Ethiopia gets a stockmarket. Now it just needs some firms to list
The country is no longer the most populous without a bourse
Why catastrophe bonds are failing to cover disaster damage
The innovative form of insurance is reaching its limits
“The Traitors”, a reality TV show, offers a useful economics lesson
It is a finite, sequential, incomplete information game
Will Donald Trump unleash Wall Street?
Bankers have plenty of reason to be hopeful
Iran is vulnerable to a Trumpian all-out economic assault
Oil prices are already at a five-month high