Paul Krugman's Nobel prize lecture on the new economic geography

It's easily understood. Watch it here. The accompanying slides are here.

For those interested in Dubai Inc.'s business model -- build it and they will come, Knowledge City and the other "cities", the massive port -- you will find it very helpful.

Be patient: he is telling a story that builds to several punchlines including the major ones that you will see apply to Dubai's strategy.

One which you may find striking is the increasing globalization of the world we have witnessed is not just the enormous growth in international trade, but the enormous growth in trade with neighboring countries -- long distance trade has not grown as much.