Tokyo’s population and economy are growing even when that’s not true for Japan on the whole. The political decision to get rid of zoning regulations is quite clearly responsible.
Of course, there are resources that are scarce and then the market puts a high price on it but there’s no way around scarcity. If the resource is really scarce you can’t give it to everybody.
Tokyo’s population and economy are growing even when that’s not true for Japan on the whole. The political decision to get rid of zoning regulations is quite clearly responsible.
Of course, there are resources that are scarce and then the market puts a high price on it but there’s no way around scarcity. If the resource is really scarce you can’t give it to everybody.
Tokyo’s population has grown and is growing, but that seems to account for most of Tokyo’s economic growth, not zoning regulations, since Tokyo’s GDP per capita shows fairly anaemic growth from 2001 to 2012 (can’t immediately find a longer time series).
I didn’t want to argue that the lack of zoning regulations produced economic growth but that rent is stable despite grows.
Ah, OK, I read your “political decision [...] is quite clearly responsible” as referring to your previous sentence, not your previous comment.