Cities

The importance of responsive markets is a seeming no-brainer.  I have noted impressive co-location in U.S. cities that limits the lengths of commuting as well as non-work trips. The Economist of April 5 includes "Metroland spreads out ... The cost of strict planning laws is measured in longer commutes."  How can it not?  It is the old story that planners (anywhere) have no way of assembling all of the information they need in their quest to make cities function better.  F.A. Hayek and many others have endlessly called our attention to this fundamental fact. It works for cities too.