If I was to create my own city in some uninhabited part of the globe where people could come in search of opportunity, I would make it a free market economy. In “The Success of an Idea: American Economic Development, 1787-2010,” it talks about a free market economy and that property is the key institution of it. A free market economy is defined as an economy based on the power of division of labor in which the prices of goods and services are determined in a free price system set by supply and demand. All the prices are determined by supply and demand, if there is little demand for something it will be cheaper. I would use land value taxation, which taxes only on the unimproved value of land. With that type of taxation people would be more motivated to develop their land so their taxes would be lower. With the development of land new businesses would be created and that would help the economy. I would also make sure that it was an independent city-state that way I would have more administrative freedom. When charter cities are inferior to the rules of larger institutions, provinces or nations, they have limited flexibility to adopt new institutions to create economic growth.