Introduction to future value: The economics of property and planning

Abstract

For macroeconomics, the wider open economy and globalisation consider property as capital, and this capital is shaped under a particular regulatory planning regime. Subsidies are an obvious example that deals with the interlinked property-planning instruments of planning gain, development contributions, impact fees, levies, community agreements, and value capture. At the forefront of the economics of property and planning is the global effort to curb climate change and rebalance a widening inequality. Basic economic concepts for resource allocation as ‘future value’ are introduced that will be relevant to the planning, valuation, and management of shared spaces. Data and information at a macroeconomic level of study can be harnessed, analysed, and used to influence decision-making. In continuing the theme of economics in property and planning, this book addresses what fundamental ‘environmental resource’ issues are of major importance given climate change.