The Economist (April 4)
2015/ 04/ 05 by jd in Global News
“Poor land use in the world’s greatest cities carries a huge cost.” There isn’t much real shortage of land in even the most heavily populated areas. Instead poor regulations stifle efficient land use. “In the West End of London,” these regulations “inflate the price of office space by about 800%; in Milan and Paris the rules push up prices by around 300%.” But the effect on economic growth is even more profound. “Lifting all the barriers to urban growth in America could raise the country’s GDP by between 6.5% and 13.5%, or by about $1 trillion-2 trillion.”
Tags: Barriers, Cities, Economic growth, GDP, Land use, London, Milan, Paris, Regulations, Shortage, U.S., Urban growth
