Name: Why the world needs charter cities
Uploaded: 2009-08-05T01:00:00Z
Duration: 18 min 10 s
Description: How can a struggling country break out of poverty if it's trapped in a system of bad rules? Economist Paul Romer unveils a bold idea: "charter cities," city-scale administrative zones governed by a coalition of nations. (Could Guantánamo Bay become the next Hong Kong?)

How can a struggling country break out of poverty if it's trapped in a system of bad rules? Economist Paul Romer unveils a bold idea: "charter cities," city-scale administrative zones governed by a coalition of nations. (Could Guantánamo Bay become the next Hong Kong?)

Paul Romer: Why the world needs charter cities

Why the world needs charter cities

Chief Economist and Senior Vice President, World Bank

Romer explores how 'bad rules' stifle innovation, using an African student's need to study under streetlights as a vivid illustration.

Reveals China's economic transformation through selective rule changes, emphasizing the power of 'special zones' to spur growth.

Proposes 'charter cities' as a radical solution to global poverty, governed by good rules to unlock human and economic potential.