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Culture and economic development in NYC and London

Culture and economic development in NYC and London SonofErat via Wikipedia

A new paper looks at the connections between economic development and culture, taking New York and London as its two cities of analysis. Written by scientists from Nokia Bell Labs, the paper examines how cultural capital links into local economies (eg an impact on house prices) and the resulting economic development that takes place. It also studies the wider social effect - for example, when cultural investment leads to house price rises, and how local people might be priced out of an area through gentrification.

CityLab - How culture shapes economic development

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