Mark Lutter makes the case for them.
What if…there exists a system of governance that could provide an alternative to the morass of public interest which stagnate change in cities today? What if these cities could not only provide local public goods, but also institutional change to jumpstart economic growth? I argue that private cities could do just that.
Pointer from Don Boudreaux.
I am puzzled as to why we have not seen more private cities emerge. You would think that large investors, developers, or venture capitalists would try them if there were a profit opportunity. Some possible answers:
1. Cities must emerge naturally. You really cannot start a good city from scratch.
2. It is too difficult to acquire the land to start a private city.
3. Existing governments will not allow private cities the freedom to operate.