Planning by Freehold
Fred E. Foldvary
Santa Clara University - Leavey School of Business - Economics Department
Economic Affairs, Vol. 25, No. 4, pp. 11-15, December 2005
Government planning of urban development is inefficient as it is controlled by political processes rather than conducted on behalf of the people it is intended to benefit. Certain forms of property rights such as divisions of freehold and leasehold can, and in practice do, lead to much more effective use of resources and provision of shared services as the owners of the freehold have an incentive to maximise site values and rents.
Number of Pages in PDF File: 5Accepted Paper Series
Date posted: December 18, 2005
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