Tuesday, March 18, 2014

The 'Redevelopment' Hoax - Thomas Sowell - Page full

The 'Redevelopment' Hoax - Thomas Sowell - Page full: "Why are so many people who are opposed to development nevertheless in favor of "redevelopment"?

The short answer is that development involves decisions made in the market by large numbers of people in the general population, in their own personal interests, while redevelopment involves taking decisions out of the hands of the population at large and putting the power to make those decisions in the hands of elites.

Developers who build housing to sell to the public are the focus of many denunciations by elites in places like coastal California. But developers would not even exist if there were not vastly larger numbers of people ready to buy or rent what they build."

'via Blog this'

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