[neckardt]

The government may be one of the older ones, but many cities are far, far older. Many cities in Europe have been around for thousands of years.

[pc86]

With the same tax structures they have now?

Big shifts in governance tend to reset things like municipal bonds and the like.

[simonh]

Sure, but their current industrial era infrastructure isn’t thousand of years old. Most of it is no older than the infrastructure in the US. Compare the size of London now with 200 years ago.