Name: The world's first charter city?
Uploaded: 2011-06-09T15:14:00Z
Duration: 8 min 56 s
Description: Back in 2009, Paul Romer unveiled the idea for a "charter city" -- a new kind of city with rules that favor democracy and trade. This year, at TED2011, he tells the story of how such a city might just happen in Honduras ... with a little help from his TEDTalk.

Back in 2009, Paul Romer unveiled the idea for a "charter city" -- a new kind of city with rules that favor democracy and trade. This year, at TED2011, he tells the story of how such a city might just happen in Honduras ... with a little help from his TEDTalk.

The world's first charter city?

Chief Economist and Senior Vice President, World Bank

The vision of charter cities offers a bold solution to global migration and urban stagnation. With billions lacking access to dynamic, welcoming cities, the creation of entirely new urban centers could provide real choices and economic hope. Honduras nearly made this idea a reality, amending its constitution after a landslide vote to allow special development regions. The value created by a single city, like New York’s land being worth thousands per square meter, shows the enormous potential in starting fresh.