 Thank you, Edgar, and thank you to the organizers for inviting me down today. I want to take a little bit, a step down in scale and also make reference to something that was referred to this morning about institutional, the importance of institutions, but also one word that hasn't really come up here at all and that is poverty. And this is, it's very hard to summarize a two-year research project in ten minutes, but I'll do my best. And but at the end you'll see a website where you can actually download the book for the time being in Spanish, but we're still working on the English translation. But this is, this is essentially a very interesting experience of a municipality that has done a lot of wrong things in some people's views. It hasn't privatized its key institutions. It has worked towards redressing social imbalances and inequalities. It has worked very hard to reduce violence. And this is Medellin. Medellin has a really bad reputation in the world and it's associated with drug barons like Pablo Escobar and so on. But I can tell you that this experience has been quite interesting for me as a researcher looking at to what extent a municipality and a local government can actually use resources that it has and more to try and reduce exclusion and poverty. And I will not really focus much on the, well, inevitably I will focus on the technology. And this is the technology I'm talking about. It is a very simple ski lift technology which exists anywhere. And with our recession in Europe producers of ski lift systems are really looking to sell these things, so they'll be really happy about this thing. And it's been taking over more and more increasingly around the world in cities like Rio de Janeiro, Constantin in Algeria, and of course we now have in London the Emirates airline. What is interesting for me is these two lines which are really the precursors of all the others. The one on the left line K, as they call it within the metro system in Medellin was opened in 2004 and that really opened the floodgates to a whole new set of innovations about building these kind of transport systems which are, I'll show you some figures about the costs, capital costs later. But what interests me again is not these, the use of this technology which in the Confucius organizers call it the low technology or low tech, but it's how it's used imaginatively to try and reduce poverty and increase accessibility. The one on the left is 2004, the one on the right was opened in 2008. And a little bit of theory here, I'm not going to spend too much time on it, John Erie already referred to it, and he's actually of course written about these issues. But issue of mobility is an important one. It's become an essential condition of modern contemporary life. You can only afford to be immobile in a city if you're very, very wealthy. If you are poor, you are subjected to even more poverty if you do not move, because you have to move to gain income, whether it's to go to a job or to sell the wares or to sell the fruits in the market or whatever it is that you do. So limited mobility constraints participation in urban life. This is only one dimension of the theoretical elements of our, as I said, two year long research project. This is a topography of Medellin, a city of three and a half million people, second largest in Colombia, blighted by not only issues of violence that I've talked about and so on, but also informality. A large parts of the city started life really as informal settlements and they've been gradually legalized. But this is a topography and the, if you like, typology that you would see typically in one poor part of Medellin. It's quite vast and quite extensive. Medellin is a metropolitan area. I'm really referring here to the central municipality of Medellin, which has a population of about two and a half million. And it's by far the richest of nine in the whole metropolitan area. The, and even more, I'm focusing on one of the two cases, the line K, which was on the left of your earlier picture, which is the communas one and two, which were where the, a lot of the violence that hid the international headlines came from really. They're the monks, the poorest, most conflictual parts of the city. Very important element is that a large proportion of the population who live there are actually tenants. This is something that people often forget. A lot of the technologies are addressed at the owners of houses, but we forget that enormous proportions of the populations, particularly in poor cities, are actually tenants. They do not have security of tenure. They can be evicted, whether it's by the market or other means. And that's a quite an important element. The other one, which these two pictures show, is that most of these houses where the people live are actually self-built. They're built by themselves without any access to architects or engineers. Anyway, a little bit about the cable cars themselves. There are two built already, which are urban and are designed to transport people from and to the places of residence to integrate them to the rest of the city. The first one, as I said, opened in 2004. It has a length of two kilometers. It rises 400 meters from the valley of the river, where the river is, up to the highest point. It has three stations, 3,000 passengers an hour, which is about the maximum that you can get out of a system like this. Anything more than that becomes much more expensive. I'm told by the engineers. The second one opened in 2008. It serves also poor communities. It's slightly longer. It also has three stations, and it's also linked to the metro system, which is essentially an overground metro system. The metro system is entirely owned by the municipality, 50% by the municipality and the province in sort of equal parts. The two lines that you see there, I don't have a pointer, the one on the top, Santo Domingo, and the one at the bottom in Yellow Laurora. Those are the two cable cars, the metro cables. This is a landscape that you see on line K on the left. The city has also built a number of very important landmarks, including this library, Biblioteca España, and another upgrading, which I will show you, but also has linked it to a tourist line which takes tourists up to the top of the hill, about 1,000 meters above the bottom of the valley, to a lovely natural park. Important, and this is the main message, I think, that I want to provide, is that in addition to the cable car itself, there's been very major efforts at upgrading of these informal settlements, and this is crucial. When mayors see this and say, well, this is a solution to all my problems, I would say no. The solution to all your problems is not through technology, as John Ari was saying earlier, but it is about a much more inclusive, a much larger kind of intervention, which is what Madeleine did quite well, including upgrading our public spaces. So if the investment in the technology itself is dwarfed by the investment in upgrading, so if we take, depending on what exchange rate you take, 24 million was what we calculated, or the metro company calculated cost to build the first one in capital investment, but 225 million dollars had actually been invested in urban upgrading. There have been a number of improvements which I'm not gonna go through. You can sort of look at those at your leisure in the book. I was also asked to compare costs with other systems. It's very difficult to find reliable costs, but I'm doing my best here. The cable car, the first two cost about between 11 and 17 million dollars per kilometer. The one in Caracas, which is slightly shorter than the first one in Madeleine, which was modeled after the Madeleine one, cost 176 million dollars per kilometer. I'm not entirely sure what the reason is. It actually shifts less passengers per hour. That compared to Borotas, Transmilenio BRT, phase one, is slightly higher, but you have to adjust for inflation and so on, and maybe exchange rates. So it is comparable to the capital cost of building BRT. And have they improved mobility? Yes, they're more convenient. Yes, they've saved people's time. Yes, but provided you discount the queuing time, which can be up to 45 minutes, which is a sign of the success of the system. They tend to be used mainly by cable car, by formal sector workers. It is less advantageous for people who want to combine this with other modes. It's less advantageous for the young who are in a focus group, and it would be interesting to see, to hear preferred mobile phones. If they were asked which one would you give up, they would say we would give up the cable car, but certainly not our mobile phones. And lessons very quickly, very importantly, Madeleine has become a much more livable city from having the highest motor rate in the world. It's now well below that, and much better. But that was a very complex process of consensus building, which I'm not going to go into details of course, and it's very complex. It needed political imagination. The previous speaker spoke about leadership. Yes, there was leadership from a point of view of the municipal government, and they've built these and escalators and run out of time. But at the core of all this was also urban physical intervention, civic architecture, a lot of that learned from other cities, including Bogota. And last but not least, one important thing is that you need very strong local institutions. Madeleine is a model which has not really been studied, and that's one something that I've been really interested in for a long time. And at the core of it is the utility company, Precious Publicas, which has assets worth about US 10 billion. This is 2010 figures, so it's probably higher now. With a surplus of 877 million transferred to the city, to municipality in between 2010 and 2011. And there's also the metro company. These are companies that are highly rated, entirely state-owned, or locally-owned, and highly rated by citizens. And the final thing that I want to say is that through these processes, what we found is that poverty was given enormous visibility, and the fact that visitors are coming to these areas, which were no-go areas, even for the police at one point, has generated an enormous sense of collective self-esteem. So well beyond just the figures of investment is this last sense that these people are feeling included in the whole process. This book, you can download it from that. If you can rapidly scribble down before it goes away. It's for free. It's already paid for by the British taxpayer, so why should we charge for it? The English version will come, I hope, in about a month's time. Thank you.