Romer has called for the building of new charter cities with new rules. Romer has controversially suggested that foreigners should run these cities in the developing world, prompting accusations of colonialism. But there is no reason why the government cannot drive the creation of new free cities that welcome enterprise, talent and capital. However, it is his latest idea that the Narendra Modi government needs to take seriously, since it recognizes the importance of urbanization in creating economic opportunities. World Bank’s chief economist-in-waiting Paul Romer’s latest idea on urbanization should be taken seriously by the Narendra Modi governmentPaul Romer is set to become the new chief economist of the World Bank this week.

Source: Mint July 17, 2016 19:30 UTC