PLANNING BY FREEHOLD |
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| Authors: | Fred Foldvary |
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| Affiliation: | Teaches economics at Santa Clara University, California |
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| Abstract: | 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. |
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