New Research on Inclusionary Zoning and the Need for Humility in Policymaking
Inclusionary Zoning and Housing Market Outcomes
Emily Hamilton | Mercatus Research
Mercatus research fellow Emily Hamilton's new research paper explores the spheres of exclusionary and inclusionary zoning. Exclusionary zoning gives value to inclusionary zoning density bonuses. Without an underlying regime of exclusionary zoning, inclusionary zoning would be a clear tax on new housing construction, so inclusionary zoning cannot alleviate the underlying cause of supply constraints and housing unaffordability. Evidence indicates that inclusionary zoning makes housing less affordable for those not lucky enough to get a subsidized unit.
The Need for Humility in Policymaking
Stefanie Haeffele and Anne Hobson | Book
Regulations impact a wide array of market and social activities that influence our daily lives. Government actors are responsible for identifying these issues, weighing the costs and benefits of intervention, and designing and implementing regulations to improve society.
Good regulations help mitigate issues in the economy without inciting new problems and without the costs exceeding the benefits of intervention. Our society is complex and dynamic where people face knowledge and incentive problems, whether in the market, politics, or civil society. By examining this complex reality, we can better understand why regulations arise and persist and the challenges of reform. The authors argue that this approach to policymaking and policy analysis requires humility; an acknowledgment of the challenges we face when intervening in our society.
This volume intends to cultivate an appreciation for the complexity of human decision making and the incentives that drive human behavior, and will be of interest to students, scholars, and policymakers who seek to understand the complexities of regulation in a dynamic social world.