The thing with cities is that they have huge sunk costs that are hard to move elsewhere. New York is prone to hurricanes and floods, but is also the landing poi

The thing with cities is that they have huge sunk costs that are hard to move elsewhere. New York is prone to hurricanes and floods, but is also the landing point for probably most of the transatlantic cables. In a similar fashion, we spend a lot of money containing the Mississippi because New Orleans as a port and oil refinery hub represents nearly a fifth of refining capacity in the US. Those would be expensive assets to replace.