This is a great episode of Econtalk. Bertaud uses labour markets as a lens for thinking about cities. Helpful examples of emergent order and the challenges (impossibility?) of planning in complex adaptive systems.
Highlights (coming up) include:
- Discussion of the importance of culture and context in how cities develop;
- Bertaud’s explanation of his broader-than-usual understanding of labour markets;
- When planning and regulation is helpful and when it’s damaging;
- The trade-offs made by new arrivals in a city (and the danger of planners trying to decide these for them);
- The way that property markets can turn development costs into opportunities.