The Economics of Zoning Laws

A Property Rights Approach to American Land Use Controls

By: William A. Fischel

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Paperback | 14 October 1987

At a Glance

Paperback
400 Pages

Age
22+

Dimensions(cm)
22.9 x 15.2 x 1.91

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Land use controls can affect the quality of the environment, the provision of public services, the distribution of income and wealth, the development of natural resources, and the growth of the national economy. The Economics of Zoning Laws is the first book to apply the modern economic theory of property rights to all major aspects of zoning.

Zoning laws are neither irrational constrints on otherwise efficient markets nor disinterested attempts to correct market failure. Rather, zoning must be viewed as a collective property right, vested in local governments and administered by politicians who rationally repsond to their constituents and to developers as markets for development rights arise.

The Economics of Zoning Laws develops the economic theories of property rights and public choice and applies them to three zoning controversies: the siting of a large industrial plant, the exclusionary zoning of the suburbs, and the constitutional protection of propery owners from excessive regulation. Economic and legal theory, William Fischel contends, suggest that payment of damages under the taking clause of the Constitution may provide the most effective remedy for excessive zoning regulations.

Industry Reviews

""A readable study of zoning that constructively blends the traditional welfare economics analysis of land use regulation and empirical studies of the effect of zoning and new 'deregulation' proposals with a keen understanding of the social and economic motives of local officials... [T]he most complete, searching, and balanced analysis of the theoretical basis of land use controls ever published.""

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