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Why Place Matters: The Connection Between Cities and Innovation

Ed Glaeser of Harvard University, who has written much over the last decade on the economics of cities and knowledge industries, has a good op-ed on the New York Times website today explaining why the city is likely to weather the recession well:

Those people who are continuing to pay high prices for Manhattan real estate are implicitly betting that New York’s human capital will continue to come up with new ways of reinventing the city.

I could hardly say it more succinctly.

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