To address economic disparity, we need smarter monetary policy.

When comparing the world’s most developed economies with those on the frontier of economic prosperity, there are two clear similarities. That is, the majority of wealth is often centralised within large cities. Secondly, politicians and economists across each corner of the political spectrum can’t agree on how to effectively define and rectify regional economic inequality. More often than not, capital cities dominate the economic profile of a country; Seoul’s GDP represents 49% of South Korea’s total economy. In Japan, 32% of GDP is attributed to…