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There is widespread concern about the current decline of cities in the United States a concern encompassing such phenomena as population loss job loss rising unemployment rates declining relative incomes rising local taxes combined with declining public service levels growing physical blight and increasing racial and economic segregation. Without policy intervention will such decline continue indefinitely? Or will there be a natural slowing down and eventual stop to the processes threatening the economic social and governmental functioning of many older large cities? Our thesis is that many of the market forces currently operating in cities cause decline to exacerbate itself in a chain of circular causation. Therefore some policy intervention to break the cycle in the interest of both the nation as a whole and the affected cities. (excerpt)
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