“There‘s no impediment, other than a failure of imagination, that will keep us from delivering on a truly global win-win solution.” —Paul Romer
Charter cities are special reform zones. They let governments quickly adopt innovative new systems of rules. A charter city’s formal rules, and the norms that they encourage, can differ markedly from a country’s prevailing system of rules. The concept is very flexible, but three elements are common to all charter cities:
- An uninhabited piece of city-sized land, provided voluntarily by a host government.
- A charter that specifies the rules that will govern the new city.
- The freedom for would-be charter city residents to move in or out of the reform zone.
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