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Creator of charter cities steps out of Honduras plan

Monday, October 1, 2012

Paul Romer is a respected economist with an unconventional plan to lift people out of poverty. And in Honduras, he thought he had found a government eager to put his ideas into practice.

His theory was to sweep aside the corruption, the self-interested elites, and the distorted economic rules that stifle growth in many poor countries and set up a brand new city with its own law and governance.

Honduras signed on and its Congress passed a law at the beginning of 2011 to start the process. But now, Romer is out of his own project, tripped up by the sort of opaque decision making that his plan was supposed to change.

Source: New York Times