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Epistemological / knowledge problem
planners never have enough information to rationally steer complex systems.
Market argument
markets coordinate supply and demand more efficiently than government planning.
Democratic argument
planning risks being technocratic, shifting power to experts and away from citizens and elected representatives.
Bureaucratic argument
planning processes are slow, rigid, and prone to inertia.
Ideological argument
planning can serve the interests of the powerful, reproducing inequality.
Hayek reasoning for markets>planning
Knowledge problem
inefficient allocation
dynamic innovation loss
bureaucratic rigidity
political dangers: centralisation → authotarism
Correcting market failures
addressing undersupply of common and public goods, externalities, transaction costs
Equity and redistribution
reducing social inequalities and improving access to collective goods
Long-term perspective
safeguarding intergenerational interests and sustainability, beyond short-term market logics
Democratic rationality
providing a forum for public debate, value negotiation, and collective decision-making
Efficiency through coordination
aligning public and private investments (e.g. infrastructure and land-use development)
Externality
a consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices, such as the pollination of surrounding crops by bees kept for honey
Matthew effect of market forces
= distibutative forces
"those who have will get”
Transaction costs
costs to arrive at an economic transaction in the market
visionary
setting out a normative agenda of principles or goals for a desirable future
strategic
providing an evidence-based integrated and long-term frame of reference for coordinated action and decision making across jurisdictions and sectors
framework-setting
establishing policies, proposals and other criteria for a territory that provide a non-binding reference for other plans and decision-making
regulative
makes legally binding commitments or decisions concerning land use change and development
Episode 1
The 1962 Act and the Regional Plans
Episode 2
The structure plans and the 1999 Act
Episode 3
Codex 2009 and policy planning
Clientelism
people with connections get advantages