by George Leef, Forbes
Why are some American cities thriving, growing in population, investment, and incomes, while others are in decline with shrinking populations, crumbling buildings, and businesses fleeing?
For the answers, read Boom Towns: Restoring the American Dream by Stephen Walters, professor of economics at Loyola of Maryland. Based on years of study of cities, he concludes that the key to a successful city is to protect property rights and otherwise leave the people alone. “The record is clear,” he writes, “cities grow and prosper when they encourage the formation of capital in its many forms by securing the returns that flow from it.” Read the entire story.