Take a look at a map of central London. Find the parks. What would the city be without those parks ? Just how valuable are the houses about its edge? Parks are important.
If there is nothing but park, well, then you have the countryside. It is also important, but the economy is slower. (Again, not a bad thing, but I am trying to make some kind of statement here, so bear with me.) I live in the city because I enjoy the energy, I seek the new and the changing. Yet, if a city is full of nothing but work, then there is nothing new and it never really changes. Which is why good cities need open spaces, need areas set aside for play. Parks keep a city alive, keep its people healthy, allow it to grow and be a successful economic entity.
Those parks are the physical version of holidays. Well, the big ones are, the small ones might just be weekends. (I Whatever they are, they are very valuable. So, what is the economics of open space ? How do we measure the value of not working and how do we find the correct balance between action and slack?
So far, I only have questions, but, with a little help from Bob above, I'll find some answers.