Why First World Countries Have Third World Cities
American cities are generally highly taxed and highly regulated. Economic freedom is often hard to come by. Does this create poverty?
It is hard to start or run a business if an oppressive city hall is always looking to shake you down.
There is a wide consensus amongst economists that economic freedom largely determines the wealth of nations and metropolitan areas are no exception to this rule. As Economist Dean Stansel, in his paper, “An Economic Freedom Index for U.S. Metropolitan Areas,” states, “higher levels of local economic freedom are found to be correlated with positive economic outcomes.”
This article was originally posted here: https://www.ac2news.com/2020/09/why-first-world-countries-have-third-world-cities/.