Britain needs more slums

The problems with the UK housing market have been well-documented. There is a ‘housing crisis.’ No-one today can afford to buy the sorts of houses their parents did. Household formation is depressed. Every day, the reports get more lurid. The latest example of this is a survey suggesting that all 43 of the affordable houses […]

Economic Nonsense: 31. The modern economy is so complex that only government can manage it

Actually, the opposite is true. The modern economy is so complex that even government cannot manage it. Who can manage it, then? The answer is no-one. No single authority or group of people can handle the volume of information, the speed of its responses and the complexity of its relationships. This is not to say […]

Economic Nonsense: 29. The economy should be based on co-operation rather than competition

It is competition that makes the economy work. Producers compete with each other to supply consumers, and consumers bid against each other to decide who buys. When goods are in short supply consumers bid up prices, sending a signal to producers to produce more and thereby redress the shortage. Competition allocates resources efficiently. The same […]

Re-examining London’s misnamed green belt

The momentum is building up for a change in London’s housing policy after the election. The ASI published “The Green Noose” by Tom Papworth in January, showing that over a third of protected Green Belt land is devoted to intensive farming, by no means pretty to look at or environmentally friendly, and which in fact […]

The housing question isn’t just how many, but where

I usually like Policy Exchange’s work but its new paper on solving the housing crisis is a little disappointing. Its main argument is that “Over one million new homes could be built over the next decade if each of the 353 councils in England built just one garden village of 3,000 new houses”. The arithmetic […]