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Robert Cohen / Project Syndicate: Why Rich Cities Rebel by Jeffrey Sachs

Credit: New Straits Times
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"Ironically, both the Heritage Foundation and Simon Fraser University rank Hong Kong as having the most economic freedom in the entire world, yet Hong Kong residents despair of their freedom to choose what to do with their lives. In all three countries, urban young people not born into wealth despair of their chances of finding affordable housing and a decent job. In Hong Kong, property prices relative to average salaries are among the highest in the world. Chile has the highest income inequality in the OECD, the club of high-income countries. In France, children of elite families have vast advantages in their life course."

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