Selected adverts

Wilkinson and Reed (2008) explained that there are usually 8 processes in commercial property development, but they are not always sequential and can overlap or repeat.

1) Initiation
2) Evaluation
3) Acquisition
4) Design and costing
5) Permissions
6) Commitment
7) Implementation
8) Let/manage/dispose

Socialism versus capitalism – a simplistic approach

Adam Smith, the Philosopher and Economist, would argue that market forces would allocate scarce resources i.e. in terms of planning – to balance out the progress of development. He would rationalise the property developer (and maybe private sector planner) as acting in response to required demand and arguing that rational self-interest and competition can lead to economic prosperity and well-being (Sloman, 2000).

Conversely, many socialists would argue that intervention in the public interest is necessary. They mainly share the belief that capitalism unfairly concentrates power and wealth among a small segment of society that controls capital, creates an unequal society, and does not provide equal opportunities for everyone in society (Newman, 2005). They may also argue that sustainable development is only possible by government intervention.

However, the socialist Karl Marx argued that cities and planning (including planning theory) are reflections of capitalism and at the same time help to constitute it (Allmendinger, 2002). Therefore, are LA planners and developers two evils, with similar goals? We can deduce that their goals are not usually the same.

References

Terms of Use