People are reasonably good at estimating how things add up, but for compounding, which involved repeated multiplication, we fail to appreciate how quickly things grow.
Paul RomerRead
In the developing world, most people don't yet live in big well-run cities. Given the chance to move to one, hundreds of millions of people would go there to get a job, get an education for their children, and live in a place that is clean, safe, and healthy.
Interpretation
What this quote means
The quote highlights the desire of many people in developing regions to migrate to well-managed cities for better opportunities and living conditions.
Paul Romer's quote emphasizes the aspirations of individuals in the developing world who yearn to relocate to well-organized cities where they can secure employment, provide education for their children, and enjoy a healthier, safer environment. It suggests that the opportunity to move to such cities could significantly improve their lives, reflecting a common desire for progress and stability.
Themes
MigrationOpportunityEducationCityDevelopment
In practice
Example use cases
In a speech about urban development, one might say: 'As Paul Romer highlights, the chance to move to well-run cities can bring immense opportunities for many.'
More from Paul Romer
All quotes →When somebody discovers something like the quadratic formula or the Pythagorean theorem, the convention in science is that he can't control that idea. He has to give it away. He publishes it. What's rewarded in science is dissemination of ideas.
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An economy can survive with 10% of the population insolation. It can't survive when 50% of the population is in isolation.
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One of the most powerful insights in economics is this idea of a division of labor. You do the thing you're good at. Other people do something else that they're good at. The net effect is better for everybody.
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Human material existence is limited by ideas, not stuff, people don't need copper wires they need ways to communicate, oil was a contaminant, then it became a fuel
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It is the job of government to prevent a tragedy of the commons. That includes the commons of shared values and norms on which democracy depends.
Paul RomerRead
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