Why NIMBY Zoning Is Not All Bad
“Deregulating land use would make the most productive metros and states even more productive, adding to U.S. productivity and increasing the wages and earning power of more Americans. The country as a whole would be more productive and richer; California and New York would be much better off, and have many more people and a greater share of economic output. But the gap between these few places and the rest of the country would be even wider than it already is.
“Let me be clear: I am not advocating for keeping these onerous land-use restrictions. Overly restrictive land-use laws not only drive NIMBYism, but also contribute to an economically damaging form of New Urban Luddism. This makes housing less affordable and holds back the very clustering that drives innovation, productivity, and growth. However, it is crucially important to understand the geographic implications of our land-use policies.”
A new study affirms the onerous costs of restrictive zoning, but also shows that it has kept spatial inequality down.
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