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... Abercrombie speaks of the law of supply and demand, this is a major law of economics. ... From a planners perspective this is understandable, as the market fails to solve all the problems associated with planning and development. ...
Economics is a theory based way of discovering trends and relationships in a market and many theories may be applied to one issue. Abercrombie may see this as muddling rather providing him with information that may be useful to planning. ... It is therefore fair to say that Abercrombie explains the nature of neoclassical economics by incorporating the liberty of the individual in his definition. ... The most applicable example with relation to planning is the environment. ... 350)
Planners must apply an economic approach to urban planning problems. ... Regulation that encourages change through economic and market processes will allow the knowledge of more people to be applied in planning and the government will plan with the people not just for it. ... The key to this issue lies in the interdependency of planning and economics.
Approximate Word count = 1199
Approximate Pages = 4.8
(250 words per page double spaced)
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