Creative classes are usually found in inspirational, cultural environments. From that perspective, the presence of an attractive cultural or historical environment that is actively enjoyed by many people is a major asset for many cities. Cultural heritage has become a resource of both...

Standard economic theory assumes money to be neutral, at least in the long run, driven by interregional arbitrage and perfect capital mobility. This may easily be used as a justification for regional economists to ignore monetary factors. However, in a world with market imperfections, such...