Paul Krugman on the return of the rentier city:
Anyway, it continues to amaze me how the 21st century is starting to look like the 17th century with fancier technology: tax farmers, mercenaries, and now rentier cities.
(Where does Bush43 fit in? Is he a 21st century version of Charles I?)
We should always be careful with analogies – especially when they have an immediate appeal – so the question is: Is there any way we can systematically show, or disprove, the hypothesis that the role of the post-1990 state, or post-1990 political system, has moved in the direction of the pre-glorious revolution state?
In any event, if the analogy holds we should be in for a century of the enlightenment at some point in time.
Update: Richard Florida also has a perspective on this.