New Book by McDonald Sees Positive Trend in Urban Renewal

"This book is an expression of hope for American cities and the people who live in them," says CBA Professor Emeritus of Economics and Finance John McDonald. "Urban America: Growth, Crisis, and Rebirth," published by ME Sharpe, chronicles the history of America's urban centers during the second half of the twentieth century, from their rise during the 1950s and 60s, to their decline in the late 60s through the 1970s, and their revival that continues to the present day.

“Admittedly, the social and economic situation in most of America’s major central cities is still far from what one would hope it to be, but the pattern of general improvement is undeniable,” says McDonald. “With this book, I attempt to bring a historical perspective to the urban crisis that gripped most of America’s major cities for roughly two decades, and then shed light on the forces behind what is a clear reversal. It is my hope that by understanding the multiple influences behind the growth, decline and rebirth of our cities, we might continue to nurture and enhance the positive forces that are currently at work.”

A member of the UIC faculty since 1971, McDonald is considered among the nation’s top authorities in the field of urban economics and real estate. In addition to his numerous published works and frequent citations, he is the former North American editor of Urban Studies and current editor of the Journal of Real Estate Literature.

“Urban America: Growth, Crisis, and Rebirth” is based on data spanning from 1950 to 2005 for 29 urban centers throughout the country. In addition to economic and population trends, the study follows related sociological, political and historical events that have played a role in the general pattern of growth, decline, and rebirth. While appealing to a professional audience, the book offers a compelling look at the value of healthy urban centers, “not only for what they contribute to the American economy,” notes McDonald, “but also for how they define the way Americans see themselves.”