The Dynamics of Interventionism: A Case Study of British Land Use Regulation

Abstract

Over the last century, governments throughout the established democracies have increasingly sought to regulate land markets via all manner of interventions. Such policies have typically been defended on the ‘market failure’ grounds of orthodox welfare economics. Absent government action, it is argued, price signals will not be reflective of the relevant opportunity costs, owing to the prevalence of externality and public goods problems in the market for land.

Citation

Pennington, M. (2004), "The Dynamics of Interventionism: A Case Study of British Land Use Regulation", Kurrild-Klitgaard, P. (Ed.) The Dynamics of Intervention: Regulation and Redistribution in the Mixed Economy (Advances in Austrian Economics, Vol. 8), Emerald Group Publishing Limited, Leeds, pp. 335-356. https://doi.org/10.1016/S1529-2134(05)08013-0