The Effects of Non-Optimal Public Policy
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The Effects of Non-Optimal Public Policy book
In this chapter, the critical examination of the volume and location of apartment building is continued. In Chapters 2 to 4, the ways in which public policies of various kinds have influenced apartment building have been considered and questions have been asked about their effects, as part of a general attempt to find causal explanations. With Chapter 7 as a basis for comparison, the normative questions can now be asked: Has public policy encouraged too much or too little apartment building, and has it caused apartments to be built in the wrong places? For the most part, the criterion used is the best allocation of resources-in particular, land-but in one section the effect on resource allocation of inter personal and interarea distribution of income and rights will be ex amined. Practically the whole of this chapter is qualitative, and policies are examined one by one. It is not possible, however, to add up the individual effects and come to a firm conclusion about the over-all effect of differences between the actual and the optimal public policies described in the previous chapter.