The Gambler’s Ruin of Small Cities (Wonkish) – by Paul Krugman – NYT

Terrific column. It ends:

“Notice, by the way, that globalization and all that isn’t central to this story. If I’m right, the conditions for small-city decline and fall have been building for a very long time, and we’d be seeing much the same story – maybe more slowly – even without the growth of world trade.

Are there policy implications from this diagnosis? Maybe. There are arguably social costs involved in letting small cities implode, so that there’s a case for regional development policies that try to preserve their viability. But it’s going to be an uphill struggle. In the modern economy, which has cut loose from the land, any particular small city exists only because of historical contingency that sooner or later loses its relevance.”

DL:  This column argues, with supporting data, that many small cities are doomed without regional or national support, and has very little to do with globalization, inspite of what Trump and his ilk say about global trade being the cause of all our discomforts.

via The Gambler’s Ruin of Small Cities (Wonkish) – The New York Times


About David Lindsay Jr

David Lindsay is the author of "The Tay Son Rebellion, Historical Fiction of Eighteenth- Century Vietnam," that covers a bloody civil war from 1770 to 1802. It was published by Footmad and Cherry Blossom Press on September 11, 2017. Find more about it at, also known as,
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