The Rethinking the Economics of Land and Housing

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A comprehensive, critical but accessible guide to the role of land in housing policy and how it has been excluded from mainstream economic theory.

Category: ISBN: 9781786991188

Description

Josh Ryan-Collins, Toby Lloyd and Laurie Macfarlane
With a Foreword by John Muellbauer

A comprehensive, critical but accessible guide to the role of land in housing policy and how it has been excluded from mainstream economic theory.

Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land?

In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies – including housing crises, financial instability and growing inequalities – are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.

Reviews

‘A lucid exposition of the dysfunctional British housing market.’
Financial Times – Best Books of 2017

The book that did the most to alter my perception of the world.’
Bloomberg – Must-reads of 2017

‘The most important book I read this year.’
Times Higher Education – Best Books of 2017

‘Extremely useful’
Institute of Place Management – Best Books of 2017

‘This excellent book is both thorough and comprehensive. I am convinced that it will quickly become an important reference for the general public and for economists, and hopefully also for policymakers.’
Michael Kumhof, Senior Research Advisor, Bank of England

‘Analyses the subject with excellent clarity. Read it and you will understand the crucial underlying drivers of rising debt, increasing inequality and financial crises.’
Adair Turner, Chairman of the Institute of New Economic Thinking

‘Lucid and convincing… Economics is evolving and this crucial book is a key part of its transformation.’
Danny Dorling, author of All That Is Solid: How the Great Housing Disaster Defines Our Times

‘Takes a fresh and comprehensive look at the problems created by a failure to consider the role of land in the economy of the UK. It proposes a wide range of solutions which policymakers should consider.’
Kate Barker, author of the Barker Review of UK Housing Supply

‘A comprehensive survey of the role of land in the economy and its neglect in economics, as well as a profile of how ownership of this essential requirement for life has become unattainable for the majority of young Britons.’
Steve Keen, author of Debunking Economics

‘Long overdue. It returns land to its central role in both economic theory and in built environment discourses.’
Duncan Bowie, author of Radical Solutions to the Housing Supply Crisis

‘This is an admirable book. It provides a powerful critique of the UK’s failed policies towards land and housing and it sets out an ambitious but credible set of alternatives which merit serious debate. But it also offers a critique of the inadequate treatment of land and housing by mainstream economics that can travel far beyond the UK.’
LSE Review of Books

 

Book Information

Format Paperback | 280 pages
Dimensions 135 x 216 x 22.86mm | 299.37g
Publication date 15 Jul 2017
Publisher ZED BOOKS LTD
Publication City/Country London, United Kingdom
Language English
Illustrations note 4 Tables, black and white; 1 Index; 1 Glossary; 1 Bibliography; 23 Figures
ISBN10 1786991187
ISBN13 9781786991188

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