Planners as Market Actors: Rethinking State–Market Relations in Land and Property

Abstract

This paper challenges the dichotomous distinction between planning and the market promoted by mainstream economists, by arguing that markets should be seen as socially constructed not given. Drawing on recent developments in institutional and behavioural economics, it contends that what is required is not for planners to become market actors, but rather to realise they are already "market actors" intricately involved in framing and re-framing property markets. By highlighting planners' potential to re-make, rather than merely accept, market conditions, the paper calls for state-market relations in land and property to be accorded a central place within the new spatial planning.

Planners in the Future City: Using City Information Modelling to Support Planners as Market Actors

“…The former is criticised for its managerial inefficiency (see Booth, 2003 for an appraisal of development control and its latter day association with inefficiency) while the latter is criticised for its neglect of external and community interests. Drawing on behavioural and institutional theories of economics and property markets, Adams and Tiesdell (2010) have put forward the argument of planners as 'market actors' where planning practitioners operate confidently within state-market relations. CIM offers an opportunity to answer their call for greater market-rich information and knowledge, however, greater access to information does not automatically mean that planners hold all of the cards, nor should they.…”

“…Yet, in the UK we believe that examples of this work are the exception, rather than the norm. Spatial planning in the UK finds itself in a state of inertia increasingly cognisant of the potential, and need for new data models (Adams & Tiesdell, 2010;Batty, 2013;Tewdwr-Jones, 2012) to inform strategic spatial planning but still reliant on tried and tested practices of strategy development and evidence gathering.…”

“…Justifying this focus, Adams and Tiesdell (2010) argue that the generation and use of market rich Information and knowledge can assist in the mediation and management of land, property and urban consumers in the future city. This is because in most mature urban locations, urban development is financed by the private sector, making the ability of spatial planners to understand and influence property markets and development processes a crucial test of their effectiveness (Adams & Tiesdell, 2010, p. 188).…”

“…In order to reflect on the theme for this thematic issue, Urban Forms and Future Cities, this paper focuses on one of Adams and Tiesdell's (2010) three recommended areas for capacity building in relation to the contemporary spatial planning process in the future city, that of the need for market rich information and knowledge. Justifying this focus, Adams and Tiesdell (2010) argue that the generation and use of market rich Information and knowledge can assist in the mediation and management of land, property and urban consumers in the future city.…”

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AbstractRecently, Adams and Tiesdell (2010), Tewdwr-Jones (2012) and Batty (2013) have outlined the importance of information and intelligence in relation to the mediation and management of land, property and urban consumers in the future city. Traditionally, the challenge for urban planners was the generation of meaningful and timely information.

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