Where did the ?new urban economics? go?
The notion of the ?New Urban Economics? emerged in the late 1960s as more rigorous approaches were applied to what had largely hitherto been an essentially descriptive approach to analyzing urban economies. The application of mathematical methods to urban problems offered the prospect of both a more thorough understanding of how urban economic systems function and a basis upon which frameworks could be developed for quantitative testing of alternative ideas. The aim of this paper is to examine the extent to which this new approach has lived up to initial expectations and degree to which modern urban economics has managed to circumvent some of the earlier criticisms raised against it. It also assesses the extent to which the new urban economics has fulfilled its promise of allowing greater quantification of urban parameters as aids to policy making
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