Economy
Cairo is also in every respect the centre of Egypt, as it has been almost since its founding in 969 AD. The majority of the nation's commerce is generated there, or passes through the city. The great majority of publishing houses and media outlets and nearly all film studios are there, as are half of the nation's hospital beds and universities. This has fueled rapid construction in the city—one building in five is less than 15 years old.
This astonishing growth until recently surged well ahead of city services. Homes, roads, electricity, telephone and sewer services were all suddenly in short supply. Analysts trying to grasp the magnitude of the change coined terms like "hyper-urbanization".
Read more about this topic: Cairo
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)