Resources and scarcity in property and planning

Abstract

Attention is now given to economic concepts and concerns of resources and scarcity when dealing with property and planning. As a discipline, economics attempts to question fundamental issues that could be applied to several spaces of inquiry. Choice is, therefore, an important element to economic thinking if there are scarce resources and infinite wants. In moving back to classical microeconomic forms of enquiry in property and planning, the use of Production Possibility Boundaries enables a simple rational explanation of what, how, and to whom resources are produced in society. In developing PPB models, the ability for boundary curves to shrink and expand over time begins to allow understand how factors of production can be expanded as economic growth expands or contracts. The choices of combination in the amount of public and private goods are not necessarily a pure economic choice. Public-private property indeed has to be more sophisticated to additional goods-services categorisations and blending.