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Greater Tokyo has a population of over 40 million, which is greater than that of all of California (38 million), let alone the SJ-SF-OAK CSA (9.7 million). Eco
by dredmorbius 2y ago
Greater Tokyo has a population of over 40 million, which is greater than that of all of California (38 million), let alone the SJ-SF-OAK CSA (9.7 million).
Economists since at least Adam Smith have noted that larger cities and regions can support a more complex and richer economic system.
One of California's problems is that rising real estate values and rents are both pricing out more activities (and people), and increasing costs of business: higher rents -> higher wages, the bulk of which are paid to landlords or mortgage lenders.