Quote of the day...

Why cities and place are more important than ever:

A central paradox of the twenty-first century is that declining communication and transportation costs have made cities more vital than ever. In the developing world, cities are the intellectual gateways between the human capital of India and China and the markets of the West. In the developed world, cities have enjoyed a remarkable resurgence over the last 25 years as the density that once made it easier to move hogsheads onto clipper ships now serves to spread knowledge in finance and new technology. Globalization and the death of distance increased the returns for being smart, and you become smart by hanging out with smart people. As such, cities remain important because they create the intellectual connections that forge human capital and spur innovation.

-- Edward Glaeser, professor of economics at Harvard and director of the Taubman Center for State and Local Government at the Kennedy School of Government

From the "Freakonomics Quorum on cities," which was called to our attention by All About Cities.