Nordicum - Real Estate Annual Finland 2018 - Page 9

Power is shifting in the world: downward from national governments and states to cities and metropolitan areas. Add to that, a horizontal push from the public sector to networks of public, private and civic actors; and, finally, the global circuits of capital, trade and innovation. The end result here is obvious – we are witnessing the century of the cities. T his is the world according to Bruce J. Katz, Centennial Scholar at the Brook- ings Institution, where he focuses on the challenges and opportunities of global urbanisation. Having co-authored The Met- ropolitan Revolution (with Jennifer Bradley) five years ago, Katz is one of the most out- spoken protagonists fo r the modern-day city. “Cities are the leading forces in the world today, because they don’t only rely on traditional forms of government power.  They also have market power – the agglomeration of assets that drive econo- mies – and civic power meaning the concen- tration of networks of institutions and also leaders that solve problems through inte- grated rather than compartmentalised solu- tions,” he argues. More recently, Katz teamed up with researcher Jeremy Nowak for The New Localism: How Cities Thrive in the Age of Populism. In this upcoming book, the duo puts forth their thesis that cities now form that key level of society that must address the challenges which are characteristic of modern societies: economic opportunity, social inclusion, a renewed public life, the challenge of diversity and the imperative of environmental sustainability. Katz and Nowak call this trend “The New Localism”. Nordicum 9